Since August 2025, the U.S. has applied a 50% Section 232 tariff on semi-finished copper products — pipe, wire, sheet, cable. Refined copper (cathodes) remains exempt, but the Commerce Department has already recommended a phased levy: 15% from 2027, rising to 30% in 2028. That uncertainty is putting upward pressure on the COMEX–LME spread, though […]
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