US copper prices tumbled after President Donald Trump surprised markets by exempting refined material from steep new tariffs on the metal.
The White House said on Wednesday it would impose 50 per cent levies on semi-finished products, such as copper pipes and wires, and so-called derivate products, such as pipe fittings and cables.
However, the US excluded “input” materials, such as copper ores and concentrates, instead subjecting them to new rules governing where they could be sold.
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