Understanding the Market | Copper stocks fell broadly in early trading as Trump threatened to impose tariffs on copper; institutions say U.S. tariffs exacerbate metal price volatility

Copper stocks fell broadly in early trading, with CMOC down 6.04% and ZIJIN MINING down 4.35%. Trump threatened to impose a 50% tariff on imported copper, causing New York copper futures prices to soar by 17%. Analysts pointed out that the U.S. has stockpiled about 400,000 tons of copper inventory, which may cushion the impact of tariffs in the short term, but the implementation of tariffs will be favorable for copper prices. Metal price volatility is expected to increase, supply remains tight, and geopolitical risks may exacerbate uncertainty. In the second half of the year, the policy environment is expected to be loose, and industrial metal prices may run strong