Trump tariffs could reshape global copper landscape
Canadian and Mexican exports unlikely to be cost-competitive and US would look elsewhere for 16% of its refined copper imports and 48% of semi-finished copper products.
“Though commodities are often seen as an inflation hedge, in this instance – where inflation is neither driven by strong demand growth nor a negative commodity supply shock – they would struggle to live up to that reputation.”
Missed production targets, higher operational costs and political turbulence at mines in Africa and Asia have investors turning increasingly sour on the world’s second-biggest gold producer.