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Copper miners remain bullish on the metal's future prospects even as a looming 50% U.S. tariff creates short-term price volatility, Barrick Mining Corp CEO Mark Bristow said in Zambia, where the company is expanding its operations.

Sabrin Chowdhury, head of commodities research at BMI, says that there is a huge shortage of copper ore in China at the moment so any rerouting of Chilean copper ore originally heading to the U.S. would be good for China in the short-term,

Copper futures dropped over 2% to $5.46 per pound on Friday, despite being poised for a weekly gain of around 10% with analysts at BMI pointing to sudden shifts in U.S. trade policy.

What Happened in Markets Today Copper prices—and mining stocks—rose after Trump confirmed a 50% tariff on the metal will take effect Aug. 1. Prices for the [metal hit record highs](

The commodity’s price is near a record high because of Trump’s trade war. It might be wise for investors to wait for a dip before easing in.

U.S. President Donald Trump's 50% tariff on copper has placed a record premium on prices of the metal in the United States that is likely to ease over the coming months as a stockpile created by traders anticipating the levy works through the system.

Copper prices—and mining stocks—rose after President Trump confirmed a 50% tariff on the metal will take effect Aug. 1. Prices for the metal hit record highs earli