Copper Prices Surge In London Amid U.S. Tariff Optimism

On February 24, 2026, copper prices surged significantly, with the benchmark three-month copper on the London Metal Exchange (LME) rising 2.2% to $13,155 per metric ton, after reaching a peak of $13,196 during trading. This rally was fueled by optimism over potentially lower U.S. tariffs following the U.S. Supreme Court's decision to strike down President Trump's reciprocal tariffs. Despite Trump's threats to increase global tariffs from 10% to 15%, analysts expect that China will face lower average levies on its metal-intensive exports, which has positively impacted market sentiment. The Yangshan copper premium, a key indicator of demand for imported copper into China, jumped 60% to $53 a ton, reflecting increased demand as Chinese traders returned from the Lunar New Year holiday.