Trump said on Tuesday that he would impose a 50% tariff on copper. Though the remarks were light on specifics, his comments sent the metal to all-time highs.

Prices for the metal hit a record high after the president suggested a higher rate than many analysts were expecting.

Pres. Donald Trump has been fixated on tariffs, imposing an array of duties on all sorts of foreign-made goods, including steel and aluminum, as well as autos and auto parts. “Today we’re doing copper,