financetom
Business
financetom
/
Business
/
Copper traders look to Chinese buyers in post Trump-tariff world
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Copper traders look to Chinese buyers in post Trump-tariff world
Jul 10, 2025 5:51 AM

BEIJING (Reuters) -Global copper traders are offering cargoes to Chinese buyers as they look to offload metal no longer able to reach the U.S. before President Donald Trump's 50% copper tariff deadline.

Trump said late on Wednesday he would impose the new tariff from August 1 to promote domestic production of everything from semiconductors to ammunition. He didn't specify which copper products would be hit or whether exceptions would be considered.

China is the world's largest copper consumer, and the number of offers by overseas sellers has been picking up since late June and is now at the highest in months, according to a Chinese copper trader who spoke on condition of anonymity.

A second China-based trader said they had received an offer for a 1,500 metric ton cargo from South America for delivery in late July or early August from a buyer "eager to find a home."

The step up in offers to China reflects how traders, who have spent months shipping copper to the United States in anticipation of the tariff, must now begin to find alternative destinations for cargoes unable to cross the U.S. border before the tariff comes into effect.

Only copper from Latin America that is being loaded or already en route is likely to make the deadline, and even then it is likely to be close, according to logistics sources.

"If Chilean material is being freed up to make its way to Europe because less is going to the U.S., that means it's being freed up for everyone and you might see some of that in Asia and elsewhere," Albert Mackenzie, a copper analyst at Benchmark Mineral Intelligence, said.

The Yangshan Copper Premium (bill of lading), a benchmark for what Chinese buyers will pay above LME for copper still outside the country, fell 5% to $62 on Thursday, reflecting the offers now on the table, according to a Singapore-based copper trader.

Major international trading houses are offering thousands of tons of cargo originally destined for the U.S. for delivery in late July and August to Chinese buyers, they added.

The most-traded copper contract on the Shanghai Futures Exchange fell for the fifth day on Thursday, down 0.4% to 78,600 yuan ($10,952.87) per ton after touching its lowest since June 23.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
EnWave Sells Fourth REV Machine to BranchOut, Expands Rights For Dragon Fruit Snacks
EnWave Sells Fourth REV Machine to BranchOut, Expands Rights For Dragon Fruit Snacks
Sep 18, 2025
11:14 AM EDT, 09/18/2025 (MT Newswires) -- EnWave ( NWVCF ) said Thursday that it has signed an equipment purchase agreement with BranchOut Foods, to deliver a fourth 120kW Radiant Energy Vacuum (REV) machine for use at its production facility in Peru. The company also granted expanded global rights for dragon fruit snacks. BranchOut Foods produces a wide range of...
Live Nation, Ticketmaster joined with ticket brokers to exploit fans, US says
Live Nation, Ticketmaster joined with ticket brokers to exploit fans, US says
Sep 18, 2025
* FTC and states accuse Ticketmaster of letting brokers violate ticket limits * Ticketmaster controls 80% of primary ticketing for major venues * Live Nation shares trading down around 2.3% (Adds context in paragraphs 1-2 and 9-11, bullets) By Jody Godoy WASHINGTON, Sept 18 (Reuters) - The U.S. Federal Trade Commission and seven states accused Live Nation and its ticketing...
Kimmel said 'horrible thing' about Charlie Kirk, Trump says
Kimmel said 'horrible thing' about Charlie Kirk, Trump says
Sep 18, 2025
CHEQUERS, England Sept 18 (Reuters) - U.S. President Donald Trump on Thursday praised ABC's decision to pull Jimmy Kimmel Live off the air, saying the late-night television host had said a horrible thing about assassinated political activist Charlie Kirk. Walt-Disney ( DIS ) owned ABC said on Wednesday it was pulling the show after Kimmel's comments that conservatives were using...
Nvidia Partnership a Game Changer for Intel, Wedbush Says
Nvidia Partnership a Game Changer for Intel, Wedbush Says
Sep 18, 2025
11:17 AM EDT, 09/18/2025 (MT Newswires) -- Nvidia ( NVDA ) and Intel's ( INTC ) partnership to jointly develop custom data center and PC products is a game changer that pushes Intel ( INTC ) to the forefront of the artificial intelligence revolution, Wedbush Securities said in a note Thursday. This collaboration is also seen to boost the US...
Copyright 2023-2026 - www.financetom.com All Rights Reserved