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Economic Times
14-07-2025
- Business
- Economic Times
What's Dr Copper's warning about India's economic health?
Trump's disruptive copper play Live Events You Might Also Like: US copper tariff may impact Indian electronics, chip plans You Might Also Like: Assessing impact of US copper tariffs: Mines Minister G Kishan Reddy How will Trump's copper tariff impact India? You Might Also Like: China the big winner as Trump slaps massive copper tariffs to crush Canada (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Copper is often called "Doctor Copper" in the world of economics because of its uncanny ability to act as a predictor of global economic trends. The term plays on the idea that copper holds a "PhD in economics", metaphorically speaking, due to its close relationship with industrial and economic is a highly versatile metal used in construction, electronics, manufacturing and energy infrastructure. Because it is so integral to core sectors of the economy, fluctuations in copper demand often reflect broader economic conditions. When the economy is expanding, demand for copper rises as industries ramp up production and construction projects increase. Conversely, when the economy slows down, copper demand tends to fall, and prices often decline as a result. This strong connection between copper prices and economic cycles has made the metal a reliable leading copper isn't infallible and its price can be influenced by factors like speculation, supply disruptions or geopolitical tensions, it remains a widely watched barometer of global economic President Donald Trump has recently announced a 50% tariff on all copper imports into the United States, citing national security and the need to rebuild America's industrial base. "Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even Hypersonic Weapons, of which we are building many," Trump said in a post on Truth Social. The move sent immediate shockwaves through financial markets and global trade futures in the US surged by as much as 17% in a single day, closing at their highest level in decades. Anticipating the tariff, importers rushed to stockpile copper, overwhelming US ports with tens of thousands of tonnes of incoming shipments. While it reflects a push toward economic self-sufficiency, the policy comes with significant short-term costs and uncertainty. In the long run, the US may expand domestic mining and smelting capacity, but such progress will take tariffs are said to include all refined metal, Bloomberg has reported, citing people familiar with the matter. They would also include semi-finished products such as those used for power grids, the military and data copper-exporting countries like Chile, Peru, Mexico and Canada could see declining demand from one of their largest markets. At the same time, global copper prices are likely to face downward pressure as surplus supply is redirected elsewhere. Arbitrage opportunities may also arise as the price of copper in the US decouples from international administration has justified the tariff on the grounds of national security, claiming copper is vital for defense and critical infrastructure. However, critics argue that the move is a protectionist gesture unlikely to meaningfully boost domestic output in the short term. Instead, it may exacerbate supply chain disruptions and spark retaliation from trade industry official told PTI that Trump's proposed 50 per cent import tariff on copper will not have any impact on Indian companies as the country is Copper Association India Managing Director Mayur Karmarkar said, "India is a copper-deficient country, and its export, as such, is not significant. Again, of the total exports, the shipments to the US are just around 10,000 tonnes." The proposed duty, as a result, will not have any impact on the Indian firms, particularly as the domestic demand is extremely buoyant, given India's thrust on renewable energy, EVs, and a host of other copper-intensive sectors, Karmarkar Coal and Mines Minister G Kishan Reddy has said that the government is assessing the impact of Trump's tariffs on copper. According to sector watchers, Trump's tariffs raise the risk of cross dumping copper from other markets, driving down prices and threatening profitability of domestic producers. India annually consumes about 1.7 million tonnes of copper. Exports to the US stood at 13,003 tonnes in the calendar year 2024, and 3,554 in the first six months of 2025, Karmakar said. Another domestic industry representative told ET that less than $ 300 million worth of copper is exported to the US from certain critical sectors of India's economy might suffer from the steep 50% tariff on copper imports into the US. The tariff has triggered an alarm across global supply chains, raising concerns in India's electronics and semiconductor has reported that the measure is primarily aimed at boosting domestic copper production in the US, but Indian executives said the ripple effects could to some extent disturb India's chip and electronics manufacturing efforts under its semiconductor per the ET report, Industry leaders say India's reliance on imported high-purity copper materials could become a serious bottleneck as global trade barriers proliferate and disrupt the supply chain. They urge the Indian government to move swiftly — not just by streamlining import procedures and BIS certifications but also by investing in the domestic production of high-grade copper alloys and materials essential to the electronics and chip value is a critical raw material in electronic manufacturing, widely used in printed circuit boards (PCBs), capacitors, resistors, connectors, relays, and wiring for semiconductor packaging and assembly. Domestic suppliers like Hindustan Copper, Sterlite, and Hindalco do not currently produce the semiconductor-grade copper needed at scale, said Ashok Chandak, president of SEMI India and the India Electronics and Semiconductor Association (IESA) as cited in the ET report. Global supply issues and costlier components will increase the manufacturing cost and slow down cost-sensitive semiconductor projects, he said. 'India must not just incentivise fabs but also build upstream resilience — through domestic refining, free trade agreements, and even strategic reserves.'Semiconductors aren't directly hit by tariffs, Kunal Chaudhary, partner and co-leader of the Inbound Investment Group at EY India told ET. 'But disruptions in copper, critical for chip wiring, are pushing up costs and shifting policy focus. This is slowing India's chip momentum and making things more expensive for global supply chains."
Business Insider
12-07-2025
- Business
- Business Insider
Sector Spotlight: President Trump's 50% copper tariff shakes up mining industry
Welcome to the latest edition of 'Sector Spotlight,' where The Fly looks at a new industry every week and highlights its happenings. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. MINING SECTOR NEWS: Hudbay Minerals (HBM) continues to respond to the wildfire situation in northern Manitoba and is working closely with local and provincial authorities to ensure its employees remain safe as well as comply with the mandatory wildfire evacuation order effective for the town of Snow Lake. As a result, the company has enabled a controlled, safe and orderly temporary suspension of operations in Snow Lake. Through the company's emergency preparedness procedures, all assets have been secured, and a limited workforce remains at site to conduct ongoing monitoring programs and assist with emergency activities. Hudbay believes its infrastructure and facilities in Snow Lake are well-protected from the wildfires and have a low risk of being damaged. Activities in Flin Flon continue unaffected given the current wildfires are not located near the city of Flin Flon. Some exploration activities near Snow Lake have been paused. Hudbay expects operations to resume efficiently once the wildfire situation improves. The company continues to expect to achieve its annual guidance metrics for Manitoba in 2025 despite the temporary wildfire impacts. President Donald Trump stated in a post to Truth Social, 'I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT. Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many. Copper is the second most used material by the Department of Defense! Why did our foolish (and SLEEPY!) 'Leaders' decimate this important Industry? This 50% TARIFF will reverse the Biden Administration's thoughtless behavior, and stupidity. America will, once again, build a DOMINANT Copper Industry. THIS IS, AFTER ALL, OUR GOLDEN AGE!' President Donald Trump indicated the U.S. would implement a higher-than-expected 50% tariff on copper imports, which has since spurred a spike in New York futures and a drop in the global benchmark, Katharine Gemmell and Martin Richie of Bloomberg reported. The plan marks the latest move in a difficult period for industrial commodities, as the U.S. leader works to push for more mining and smelting at home. Rio Tinto's new CEO should be open to merger and acquisition deals as well as sharpening productivity and cost cuts, Melanie Burton and Clara Denina of Reuters FCX) to Neutral from Buy with a price target of $50, up from $45. While UBS remains constructive on the medium-term outlook for copper, it expects softening in demand and fundamentals to weigh on prices over the next six months. The firm now sees a balanced risk/reward on Freeport shares with potential downside to copper prices. National Bank raised the firm's price target on Teck Resources (TECK) to C$66 from C$65 and reiterated an Outperform rating on the shares. Additionally, National Bank increased its price target on Hudbay Minerals to C$16.50 from C$14.50 and maintained an Outperform rating on the shares. Scotiabank boosted the firm's price target on Freeport-McMoRan to $52 from $48 and kept an Outperform rating on the shares. The firm believes Freeport-McMoRan is the biggest winner of punitive Copper tariffs given its domestic production and exposure to premium Comex prices, the analyst told investors in a research note. JPMorgan elevated its price target on Freeport-McMoRan to $56 from $42 and held an Overweight rating on the shares. The firm also heightened its price target on Teck Resources to $46 from $41 and reaffirmed an Overweight rating on the shares. JPMorgan increased the price target as part of a Q2 earnings preview for base metals. It increased copper price targets to reflect higher commodity pricing and easing recession risk. Stifel initiated coverage of Teck Resources with a Hold rating and C$60 price target. Stifel also started coverage of Freeport-McMoRan with a Buy rating and $56 price target. The firm, which has a 'tactical' gold price target of $3,800/oz on a six-to-twelve-month view, argues that gold equities can 'go much higher' compared to the price of gold and S&P 500. On copper, which the firm says is 'under-owned,' it advises increased exposure to take advantage of heightened supply stresses and estimates the incentive copper price is $5.00/lb. Citi raised the firm's price target on Freeport-McMoRan to $48 from $44 and backed a Neutral rating on the shares as part of a Q2 earnings preview on Tuesday. The firm also added an 'upside 90-day catalyst watch' on the shares. Citi expects a 25% tariff on copper in the next 90 days and believes Freeport will be the 'only real winner' in the copper group given its large U.S. operations. Veritas analyst Martin Pradier initiated coverage of Hudbay Minerals with a Buy rating and C$17 price target. Berenberg lowered the firm's price target on BHP Group (BHP) to 1,700 GBp from 1,900 GBp and kept a Hold rating on the shares. Additionally, the firm decreased its price target on Anglo American (NGLOY) to 1,900 GBp from 2,000 GBp and kept a Sell rating on the shares. Last week, JPMorgan lowered the firm's price target on Southern Copper (SCCO) to $79 from $83.50 and maintained a Neutral rating on the shares. The firm adjusted its estimates to incorporate Q1 results, the latest macro and forex estimates and updated commodities prices. Berenberg downgraded Rio Tinto to Hold from Buy with a price target of 4,700 GBp, down from 6,200 GBp. The firm is taking a more cautious view on iron ore and reduced estimates by about 5% over 2025-27, citing a lack of clear stimulus from China as 'a key driver of this reduction,' the analyst tells investors.
Axios
10-07-2025
- Business
- Axios
Trump announces 50% tariff on copper from Aug. 1
President Trump announced Wednesday he'll impose a 50% tariff on copper imports from Aug. 1 "after receiving a robust" national security assessment. The big picture: Copper is the third most widely used metal globally and the U.S. imports almost half of the commodity that it uses — mostly from Chile, per U.S. Geological Survey data. Copper prices reached record highs on Tuesday when Trump revealed his tariff plan for the commodity that's used in building construction, electronics, transportation equipment and industrial machinery, among other goods. What he's saying: "Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many," Trump said in announcing the tariff plan on Truth Social.
Time of India
10-07-2025
- Business
- Time of India
US president Donald Trump says 50% copper tariff to take effect August 1
President Donald Trump announced Wednesday that a 50 percent tariff on US imports of copper, a key metal for green energy and other technologies, will take effect on August 1. "I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT," Trump posted on his Truth Social platform, likely alluding to a Department of Commerce investigation launched earlier this year. bur-des/bjt Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads PRODUCT TARIFFS IN EFFECT PRODUCT TARIFFS - THREATENED COUNTRY TARIFFS IN EFFECT Tired of too many ads? Remove Ads U.S. President Donald Trump announced on Wednesday a 50% tariff on copper, saying on social media that it would be effective August 1 and that the decision was made after a national security assessment."Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many," Trump said in a post on Truth signaled on Tuesday that he was imposing fresh tariffs on copper, sending U.S. Comex copper futures to record has set a baseline tariff of 10% on all imports to the United States, as well as additional duties on certain products or is a list of targeted tariffs he has implemented or threatened to put in and aluminum - 50%Autos and auto parts - 25%Copper - 50%Pharmaceuticals - up to 200%Semiconductors - 25% or higherMovies - 100%Timber and lumberCritical mineralsAircraft, engines and partsCanada - 10% on energy products, 25% for other products not covered by the U.S.-Canada-Mexico AgreementMexico - 25% for products not covered by USMCA China - 30%, with additional tariffs on some productsUnited Kingdom - 10%, with some auto and metal imports exempt from higher global ratesVietnam - 20% for some products, 40% on transshipments from third countriesAlgeria 30%Bangladesh 35%Bosnia and Herzegovina 30%Brunei 25%Cambodia 36%Indonesia 32%Iraq 30%Japan 25%Kazakhstan 25%Laos 40%Libya 30%Malaysia 25%Moldova 25%Myanmar 40%Philippines 20%Serbia 35%Sri Lanka 30%South Africa 30%South Korea 25%Thailand 36%Tunisia 25%
Express Tribune
09-07-2025
- General
- Express Tribune
No horse trading at donkey market
In a vibrant spectacle of hooves and heritage, the centuries-old donkey market at Tando Ghulam Ali kicks off its annual fair. PHOTO: EXPRESS One of Pakistan's oldest and largest donkey markets opened its annual fare at Tando Ghulam Ali, drawing huge crowds and colourful animals from across the country. High-breed donkeys and mules with unique names like Rocket, Missile, Kalashnikov, Modi, Kashmala, Sharmeela, Sheeri, Madhuri, Sheila, Heer Ranjha, and Yahoo became the centre of attention. This unique annual donkey market held on the 11th of Muharram in Badin attracted donkey lovers and buyers from all over Pakistan. The donkeys and mules brought to the market were beautifully decorated and adorned with colourful clothes, garlands, flowers, and other ornaments. To increase interest among visitors, donkey races were also organised. However, despite the large turnout and cultural significance of the event, the local municipal authorities failed to provide basic facilities. The lack of clean drinking water, washrooms, proper sanitation, and waiting areas caused inconvenience to many buyers. According to elderly residents, this market began even before the creation of Pakistan. In those times, due to the lack of roads and transport, people from far-off villages would attend Muharram processions using donkeys and donkey-carts. Over time, this informal gathering grew into a full-fledged market. The importance of this market grew even more during the Soviet-Afghan war in the 1980s when donkeys and mules were heavily smuggled to Afghanistan. These animals played a vital role not only in delivering ration supplies but also in transporting weapons through the rugged terrains. A long-time buyer recalled how these donkeys and mules would cross mountainous paths to deliver supplies to their destinations. In the modern era of pickups and loader bikes, this donkey market remains a vital part of Badin's cultural heritage.
