Mumbai, July 12 -- COMEX futures jumped around 17% in intraday moves on July 8, 2025 to hit a fresh record near $5.90 per pound. The metal swelled after the US President Donald Trump noted that the tariff on copper is set to be kept at 50%. The US Commerce Secretary Howard Lutnick noted that their investigations on Copper under Section 232 are complete and their observations have been submitted to the President. Lutnick added that these measures could be put in place by the end of this month or on August 1, which is when the reciprocal tariffs deadline extension ends as well. The COMEX Copper futures ended the week at around $5.60 per pound, soaring 9% and adding to its 8.60% increase in June.
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