Traders Cash In Big as U.S. Copper Tariff Sparks Frenzy
In a dramatic twist following President Trump’s announcement of a 50% tariff on copper imports starting August 1, major commodity traders—Trafigura, Mercuria, Glencore, and IXM—are positioned to reap an estimated $300 million windfall. Within minutes of the tariff announcement, U.S. copper prices on the COMEX surged 13%, creating a staggering 28% premium over London Metal Exchange…