Copper, we had a great move up, time to reach higher highsHi guys we would be looking into copper today , again focusing on the fundamentals which give us the remark that President Donald Trump will impose international tarriffss on the imports of precious metals!
President Donald Trump's threat to impose tariffs on U.S. copper and aluminium imports will result in higher costs for local consumers because of a shortfall in domestic production, analysts and industry participants said on Tuesday.
In a speech on Monday, Trump said he would impose tariffs on aluminium and copper - metals needed to produce U.S. military hardware - as well as steel, to entice producers to make them in the United States.
Trump made fresh remarks about imposing tariffs on Monday
Said he would impose import tariffs on aluminium and copper
Also plans tariffs on computer chips, pharmaceuticals, steel
US copper futures widen premium over London prices
US aluminium buyers face higher costs due to import dependence
The rising copper price reflects strong global demand, driven by economic growth, infrastructure development, and the increasing shift toward renewable energy and electric vehicles. Supply constraints and growing industrial use further support this upward trend. This is a positive sign for mining companies, investors, and economies reliant on copper production, as it boosts revenues and encourages further investment in the sector. Additionally, higher copper prices indicate a healthy industrial landscape, reinforcing its vital role in modern technology and sustainability efforts.
Entry: 4.28
Target: 4.57
SL area based on your risk management,it can be on the strong support area at 4.08
As always my friends happy trading!
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