Copper futures fell nearly 2% to around $5.95 per pound on Thursday, pulling back from all-time highs after US President Donald Trump held off on imposing new tariffs targeting imports of critical minerals. Trump said he would instead seek to negotiate agreements with foreign nations to ensure the US has sufficient critical mineral supplies, while keeping the door open to potential import restrictions if satisfactory deals are not reached in time. The Trump administration added copper to its critical minerals list last year, citing national security concerns given the metal’s key role in military and advanced technologies. Analysts also noted that copper production in China is likely to remain high in the near term. Still, the metal remains supported by declining inventories on the London Metal Exchange and robust demand driven by the global transition toward clean energy and the rapid expansion of artificial intelligence.
