In the upcoming year of 2025, we anticipate that the global economy will face a series of complex and volatile challenges. With the conclusion of the US presidential election, uncertainties in global trade policies are expected to further increase, bringing new issues to international trade cooperation.
With Trump signing an executive order to initiate a Section 232 investigation on copper, market expectations for future copper tariffs have been rising. Meanwhile, this potential tariff threat has also driven up COMEX copper prices, pushing US copper prices and the price spread between COMEX and LME to a periodic high. This not only boosted global copper prices but also led to changes in the recent flow of copper cathode. Against this backdrop, it has also impacted the export quotations of domestic copper cathode rods. Below is a detailed analysis: