Breaking: Silver Tops $38 for First Time Since 2011 
Copper traders are racing against time as President Trump’s 50% tariff on imports is set to take effect August 1. With U.S. copper futures trading at a 25% premium to global prices, the rush is on to complete shipments and lock in profits before the tariff hits.
To speed things up, cargoes are being diverted to faster U.S. entry points like Hawaii and Puerto Rico, while inventories surge at hubs like New Orleans and Panama City. Some traders are even paying $400 per ton above London prices to secure qualifying copper.
But major questions remain: Will the tariff apply to metal already in transit? Are some copper types exempt? And could the rules change again? For now, the market is in overdrive—trying to land shipments before the deadline closes the window.
