https://newsletter.mw.creamermedia.com
Copper|Trucks
Copper|Trucks
copper|trucks

Citi cuts copper price forecast, sees 25% US import tariff in second quarter

27th March 2025

By: Reuters

  

Font size: - +

Citi Research forecast that a 25% US copper import tariff would be imposed in the second quarter of this year and lowered its three-month price outlook to $9 500 per metric ton, down from $10 000 per ton, the brokerage said in a note on Thursday.

Last month, US President Donald Trump ordered a new probe into potential tariffs on copper imports to rebuild US production of a metal critical to electric vehicles, military hardware, semiconductors and a wide range of consumer goods.

Trump on Wednesday unveiled a 25% tariff on imported cars and light trucks starting next week, widening the global trade war.

Citi said that it expects Section 232 tariffs on US copper imports, set at 25%, to be announced as early as April and implemented by May.

"We still see copper easing to average $8 800/t through H2'25 on a broader unwind of physical demand in reaction to implementation of broader U.S. import tariff hikes and US growth headwinds," Citi added.

Benchmark three-month copper CMCU3 on the London Metals Exchange (LME) was up 0.6% at $9 982.5 a metric ton as of 05:36 GMT.

Meanwhile, Goldman Sachs forecasts LME copper prices at $9 600, $10 000, and $10 700 per metric ton over the next three, six, and 12 months, respectively. The bank also highlighted near-term downside risks to prices from a trade policy update set to take effect on April 2.

Edited by Reuters

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 28 March 2025
Magazine round up | 28 March 2025
28th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.124 0.198s - 127pq - 2rq
Subscribe Now