The market expects the Tariff policies of Donald Trump They weigh on economic growth and trigger new commercial tensions. Thus, the futures of the copper in USA They reached a Historical maximum On Wednesday, and extended their cousin about prices in London.
The futures of copper For May more active in the American Comless Stock Exchange rose 0.6%, AU $ S5,242 La Libra, after touching a peak of US $ 5,372. For its part, the three -month reference copper in the London Metal Bag (LME) It dropped 1.8%, AU $ S9.925 a ton, after touching the US $ 10,164.5, its maximum since June 7.
The Copper Comex premium on the price in the LME was extended to a record. Exceeded US $ 1,700 per ton for the futures of May of the Comex and the US $ 2,000 for those of December.
Copper: Why up
“The market is now valuing in 80% the probability that the United States imposes a 25% tariff on copper import”Said Dan Smith, Amalgamated Metal Trading. “Therefore, it is not 100%, but the probability is increasing.”
A month ago, Trump ordered a study to impose possible new tariffs on copper imports with the aim of reconstructing American metal production.
Technically, the investigation can last up to nine months, but Bloomberg, citing people knowledgeable about the matter, reported that US copper tariffs could arrive in several weeks.
In other basic metals, aluminum in the LME closed stable au $ 2,608.5 the ton; The lead rose 0.1%, au $ 2,087; Zinc fell 0.5%, au $ 2,956.5; The tin fell 0.1%, au $ 35.005; and the nickel won 0.8%, AU $ S16.275.
After operating on a large part of the wheel, the prices of the gold They closed almost stable, at US $ 3,020.26 the ounce in the cash segment. While American gold futures also remained stable at US $ 3,054.84.
“Is The Safe Gold Refuge Function that is providing support (at prices)and one of the reasons that drive it is the US tariff policy, “said Quantitative Commodity Research Peter Fertig analyst.
Trump said Monday that cars will arrive soon, but indicated that on April 2 he would not impose all the levies with which he has threatened and that some countries could obtain exemptions.
Gold, traditionally seen as a coverage against uncertainty and inflation, has already risen more than 15% this year and reached a historical maximum of US $ 3,057,21 on March 20.
The governor of the Adriana Kugler Federal Reserve said Tuesday that The Federal Reserve Interest Policy is still well positionedbut the advances to return inflation to the objective of 2% of the Central Bank have slowed down.
Investors now expect data on personal consumption spending in the United States, which will be published on Friday.
“The deflator of personal consumption is the measure of measuring the Federal Reserve, and if it occurs at a moderate rhythm, speculations about new fees in the United States could be intensified, which, of course, would be a positive factor for gold,” said Fertig.
The Federal Reserve maintained its reference interest rate without changes last week, but indicated that it could cut the rates before the end of the year. Lingows, which do not pay interest, usually prosper in an environment of low interest rates.
Source: Ambito
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