Copper price jumps on weaker dollar and tariff fears

Copper prices surged nearly 6% on Monday, supported by investor concerns over potential US tariffs on the industrial metal and a weaker dollar.

The rally followed US President Donald Trump’s announcement late Friday that he plans to double tariffs on steel and aluminum to 50% starting this Wednesday.

The threats raised concerns over the fate of copper, which the Trump administration is also considering placing tariffs on. Prices of copper in the London and New York markets gapped up on the news.