Jul 8, 2025
Copper closed up nearly 10% on news that Trump would implement 50% tariffs on imports of the red metal, after signing an executive order to investigate the trade picture back in February.
In the near term it’s likely we get a pull-forward in Canadian copper exports, in the medium-term higher costs should flow through to the consumer, and in the long-term Canada may have to diversify its copper trade relationships.
About Bullpen: Bullpen Finance Inc. publishes content on Canadian markets and provides paid research coverage of select Canadian issuers. Bullpen is paid in cash by covered issuers, does not accept stock or options, does not hold positions in covered securities, and does not conduct investment banking business. Bullpen and LodeRock Advisors Inc. are affiliated; LodeRock provides investor relations services to issuers, some of whom are covered by Bullpen Research. When a post discusses a covered issuer, a specific disclosure appears at the top of the post. This post is published for general information purposes. It is not personalized investment advice and is not tailored to any individual reader’s circumstances. Bullpen is not a registered investment adviser or dealer. For full disclosures, including analyst certification, jurisdictional statements, and conflict of interest policies, please see our Legal & Disclosures section on our website.
