--- title: "Trump's 50% Copper Tariff Shocks Markets—These Stocks Are Winning Big" description: "President Trump's unexpected 50% import tariff on copper has caused prices to soar to a record $5.90 per pound, benefiting U.S. copper stocks like Freeport-McMoRan and Southern Copper. Goldman Sachs h" type: "news" locale: "en" url: "https://longbridge.com/en/news/247855902.md" published_at: "2025-07-09T15:16:53.000Z" --- # Trump's 50% Copper Tariff Shocks Markets—These Stocks Are Winning Big > President Trump's unexpected 50% import tariff on copper has caused prices to soar to a record $5.90 per pound, benefiting U.S. copper stocks like Freeport-McMoRan and Southern Copper. Goldman Sachs has adjusted its copper import tariff forecast and expects elevated prices due to tight global supplies. The tariff's implementation is anticipated soon, prompting increased U.S. copper shipments. Rising copper prices may impact sectors reliant on the metal and raise inflation concerns. Key beneficiaries include Freeport and Southern Copper, alongside global players like Grupo México and BHP. A surprise 50% import tariff on copper announced by President **Donald Trump** on Tuesday sent the red metal into a frenzy, driving prices to a historic high of $5.90 per pound as investors rushed to price in potential supply constraints. U.S.-based copper stocks **Freeport-McMoRan Inc.** FCX and **Southern Copper Corp.** SCCO stand to post outsized gains if copper prices continue climbing. While the measure appeared unplanned, the short implementation timeline—expected before the end of July or early August—has made it increasingly likely that the 50% rate will take effect, according to Goldman Sachs analyst E**oin Dinsmore**. "We change our baseline to a 50% tariff on U.S. copper imports from 25% previously," Dinsmore said in a note Wednesday. ## What's Driving The Copper Price Surge? The shock tariff announcement comes amid already tight global copper supplies. Goldman Sachs maintained its December 2025 London Metal Exchange (LME) copper forecast at $9,700 per metric ton, but said the odds of prices exceeding $10,000 in the third quarter have diminished. Still, with global supply lagging demand and the U.S. set to experience a copper stock drawdown, prices are likely to remain elevated for months, according to the bank. “We expect a further acceleration in shipments into the U.S. in the coming weeks,” Dinsmore said, as traders rush to import ahead of tariff implementation. Steel and aluminum tariffs were also raised to 50% in June, with markets pricing in 80% of that move—providing a precedent for copper to follow a similar pricing trajectory. Copper's 13% advance on Tuesday not only marked its largest single-day rally on record, but also lifted prices to fresh all-time highs, said LPL Financial's chief technical strategist **Adam Turnquist**. While the metal has since pared some gains, it still remains above key support at $5.22 per pound. "The surging demand for U.S. copper ahead of the looming tariffs has pushed domestic prices to a +25% premium over copper trading at the London Metal Exchange (LME)," Turnquist said. At the same time, LME inventories have been significantly depleted, raising concerns about a global supply shortage outside the U.S. He added that rising copper prices could significantly affect copper-intensive sectors such as building construction, equipment manufacturing, electric vehicles and electronic products. "The widespread use of copper might also fuel inflation concerns," Turnquist said. ## Which Stocks Could Potentially Gain From Trump's Copper Shock? Freeport is the top U.S. copper equity play and holds a nearly 9% weighting in the **iShares Copper and Metals Mining ETF** ICOP. **Southern Copper Corp.** could another key beneficiary, with the stock returning 10.1% year-to-date. Globally, copper production is heavily concentrated in Latin American countries like Chile and Peru—home to some of the world's largest deposits. This puts additional focus on companies such as **Grupo México S.A.B. de C.V** GMBXF., the parent of Southern Copper, and **BHP Group Ltd.** BHP, which has significant operations in Chile's Escondida mine, the world's largest copper mine. Other global players include **First Quantum Minerals Ltd**, **Antofagasta plc** ANFGF, focused on Chilean mining, and **Evolution Mining Ltd.** CAHPF, an Australian company diversifying into copper alongside its core gold assets. **Read now:** - **Wall Street Is On Fire—So Why Is This Wall Of Cash Moving Abroad?** *Image: Shutterstock* ### Related Stocks - [SCCO.US - Southern Copper](https://longbridge.com/en/quote/SCCO.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 金银铜未来几周都将 “盘整”！摩根大通：这只是牛市休整，铜或在二季度率先反弹 | 金属狂欢暂停，但舞曲未终。在这个 “中场休息” 阶段，盲目追高黄金可能面临数月的震荡折磨。相反，盯着制造业周期的复苏信号，在技术支撑位布局基本金属，或许是捕捉下一轮上涨浪潮的最佳策略。 | [Link](https://longbridge.com/en/news/275222092.md) | | 玩转 “金银铜”，“北京大空头” 横空出世 | 在白银暴跌前精准做空，短短几天浮盈 36 亿？虽然是 “代客持仓” 还是个人收益仍然是个迷，但边锡明从诸暨管材大王到外媒口中的 “北京大空头”，三年间通过大宗商品博弈狂揽数百亿，凭实业逻辑降维打击全球金融泡沫，这不仅是造富奇迹，或许更是全球 | [Link](https://longbridge.com/en/news/275085566.md) | | 市场监管总局约谈阿里巴巴、抖音、百度、腾讯、京东、美团、淘宝闪购等平台企业 | 市场监管总局于 2 月 13 日约谈了阿里巴巴、抖音、百度、腾讯、京东、美团和淘宝闪购等平台企业，要求它们遵守相关法律法规，落实主体责任，规范促销行为，并杜绝 “内卷式” 竞争，以维护公平竞争市场环境，促进平台经济的创新与健康发展。 | [Link](https://longbridge.com/en/news/275975190.md) | | 群核科技拿下境外备案，“杭州六小龙” 首家上市公司渐近 | | [Link](https://longbridge.com/en/news/275974694.md) | | 安迪纳铜业在 Piuquenes 项目启动新的钻探计划 | 安迪纳铜业公司在阿根廷的皮乌奎内斯项目启动了一项新的钻探活动，重点关注皮乌奎内斯东部，钻探揭示了多个斑岩铜金矿化带。深层电磁测量调查确定了皮乌奎内斯北部的新钻探目标，促使公司调动第二台钻机。该公司计划同时探索皮乌奎内斯东部的斑岩系统和皮乌奎 | [Link](https://longbridge.com/en/news/275472551.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.