A lot of the copper gains on COMEX are due to tariff...

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    A lot of the copper gains on COMEX are due to tariff expectations as COMEX prices will be post-tariff prices. Compare that to LME benchmark prices (see chart below as of Fri close) that rule most offtake agreements in the physical copper world. Only US$9,600/t or about US$4.36/lb. So, there is that ...

    https://hotcopper.com.au/data/attachments/7022/7022122-4bb44d796d01c27e7edd8b2c67282f93.jpg

 
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