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Trump excluded refined copper and other materials from tariffs, resulting in a big dump of 18% in US copper.
Jin10 data, July 31 - After U.S. President Trump signed a notice regarding copper imports, U.S. copper futures prices fell significantly. The White House stated that Trump announced a 50% universal tariff on imported semi-finished copper products and copper-intensive derivatives, effective from August 1. However, refined copper and negative copper are excluded from this decision, which is contrary to market expectations. As a result, copper prices once experienced a big dump of 18%, and then slightly rebounded.