Copper continues retreating from a nine-month high amid broader risk-off sentiment, ING’s commodity analysts Warren Patterson and Ewa Manthey note.
Tariffs are bearish for Copper
“Copper continues its retreat from a nine-month high amid broader risk-off sentiment as markets are awaiting the White House’s so-called reciprocal tariffs due on Wednesday. Tariffs are bearish for Copper and other industrial metals in the context of slowing global growth and keeping inflation higher for longer.”