South Korean companies want to establish 6,000 MW coal power plants in Turkey

Copper and silver futures in New York are surging above rival international price benchmarks as traders ramp up bets that Donald Trump will impose hefty import tariffs.

The world's imports increased a modest 3.6% to a record high in 2024, however the boost was nearly totally driven by China.

Companies such as Adani, Hindalco and Vedanta have expressed an interest in sourcing copper from Mongolia.

The moves are the latest signs that Glencore and Trafigura Group, which have long dominated metals trading, are being challenged by an influx of new competition.