Traders are once again scouring global markets for copper to ship to the United States, as renewed speculation over import tariffs widens the price spread between New York’s Comex and the London Metal Exchange (LME), according to several industry executives.
The revived trade is tightening global availability of the industrial metal, with front-month Comex contracts now trading more than $500 a ton above LME cash prices, levels not seen since last autumn. Executives predicted that U.S. imports could return to historically elevated rates of 150,000 to 200,000 tons per month based on current pricing spreads.
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