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<Research>Macquarie Predicts Copper Prices to Fall on US Tariffs, Advises Waiting for Better Investment Timing
US President Donald Trump has announced a 50% tariff on copper imports starting August 1. Following the news, US Comex copper futures surged over 12%.Macquarie wrote in its researc...
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<Research>Macquarie Predicts Copper Prices to Fall on US Tariffs, Advises Waiting for Better Investment Timing
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US President Donald Trump has announced a 50% tariff on copper imports starting August 1. Following the news, US Comex copper futures surged over 12%.

Macquarie wrote in its research report that this is likely a follow-up action to the US government's Section 232 investigation into imported copper launched in February this year.

Related NewsZIJIN MINING Opens 1% Higher as Interim NP Expected to Hike 54% to RMB23.2B
The broker believed that the 50% tariff imposed by the US on copper could destabilize the global copper market. The tariff could prevent 100,000 tons of surplus inventory per month from entering the US and instead push it into other markets.

For every 1% drop in copper prices, Macquarie expected that the earnings of CMOC (03993.HK)  -0.060 (-0.748%)    Short selling $23.58M; Ratio 28.819%   and ZIJIN MINING (02899.HK)  +0.200 (+0.980%)    Short selling $84.98M; Ratio 40.231%   for this year would fall by about 1.5% and 1%, respectively. The broker suggested that the best time to invest in Chinese copper companies would be after the copper price correction is fully reflected in share prices.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 12:25.)

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