U.S. President Donald Trump's 50% tariff on copper has placed a record premium on prices of the metal in the United States that is likely to ease over the coming months as a stockpile created by traders anticipating the levy works through the system.

U.S. President Donald Trump's announcement of a proposed 50% tariff on copper imports has raised concerns in Chile and Peru, which together account for nearly 40% of global copper production.

Tariffs have raised US$100 billion (S$128 billion) for the US so far, said US Treasury Secretary Scott Bessent. Read more at straitstimes.com. Read more at straitstimes.com.

Copper shipments into the United States are expected to accelerate in the coming weeks in a final scramble to get metal across the border before U.S. President Donald Trump's higher than expected 50% tariff on imported copper takes effect.

Trade tensions and demand worries are among catalysts contributing to recent dip in copper prices. - However, weakness in the industrial metal may be short-lived as the long-term outlook still shines.

President Trump this week has threatened to hit at least 20 nations with steep import duties by August.

Copper prices in the United States jumped more than 12% to a record high above $12,330 per metric ton after U.S. President Donald Trump said he would announce a 50% tariff on imports of the metal on Tuesday.