Copper’s Price Trajectory Now Hinges on US Tariff Decision

July 7, 2026 09:05:00

Months after Operation Epic Fury disrupted global metals markets, uncertainty surrounding the Strait of Hormuz is no longer the dominant force shaping copper prices. Although conflicting messages from Iran over whether the waterway is fully operational continue to create some uncertainty, the market’s attention has increasingly shifted toward Washington, where an impending decision on U.S. copper tariffs is expected to have a far greater influence on prices.

It will therefore not be surprising if entities like Numa Numa Resources Inc. regularly conduct discussions about any news coming from Washington regarding the country’s trade policy on…

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