Copper futures hovered above $5.8 per pound on Monday, but struggled to cling onto gains from earlier in the session as shifting US trade policies unsettled global markets. On Saturday, US President Donald Trump said he would raise the 10% global levy announced a day earlier to 15%, following the US Supreme Court’s rejection of his sweeping reciprocal tariffs, adding fresh uncertainty to the economic outlook. Tariffs typically dampen global growth, curbing demand for commodities, but pressure on the dollar from Trump’s announcements provided some support to copper and other metals. Investors also monitored expectations for higher trading volumes this week as Chinese markets reopen after the extended Lunar New Year holiday. Copper and other metals had surged sharply in January before being sold off, largely fueled by speculative activity among Chinese traders.
