SMM April 23: White House Signals Trade War Relaxation, Copper Prices Rise

Published: Apr 23, 2025 08:51

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SMM April 23 News: On the macro front, on the tariff front, the White House has signaled a relaxation, with specific details as follows: Fox News reported that the US Treasury Secretary is busy negotiating trade agreements with Japan, South Korea, Australia, and India, but it is understood that the agreements will not be reached soon. Vance, who is visiting India, has become the "primary executor" of the trade negotiations. The White House: 18 trade agreement proposals have been received, and trade team meetings with 34 countries will be held this week. US media: The White House is "close" to reaching a tariff agreement with Japan and India, but finalizing the final agreement may take several months. Sources said that Trump is considering reducing US drug prices to international levels. Sources revealed that the US will strive to persuade the UK to cut car tariffs from 10% to 2.5% and will urge the UK to relax agricultural import regulations. With the release of signals of a trade war easing, copper prices rose overnight. On the fundamental side, the SMM Copper Industry Summit is being held in Nanchang, and the market activity has slightly decreased during the day. Suppliers stood firm on quotes for shipments, and both premiums and discounts for copper prices rose, while downstream purchasing desire was somewhat suppressed. Overall, it is expected that copper prices will remain supported today.

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