New Delhi, July 9 -- Copper futures in New York soared 17 per cent after U.S. President Donald Trump announced plans to impose a 50% tariff on imports, a move expected to disrupt global metal supply chains significantly.

Comex contracts surged as much as 17% on Tuesday-their biggest single-day gain on record-before retreating over 4% in early Wednesday trading. Prices in New York traded at a substantial 24% premium compared to similar futures in London, which typically serves as the global pricing benchmark.

Whereas, on the London Metal Exchange (LME), copper prices were down 1.5 per cent $9,642 per metric ton on Wednesday, July 9. On the other hand, copper prices on the Shanghai Futures Exchange (SHFE) were also down 1.46 per cent to 7...