Copper prices hit record high
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Fifteen months since a devastating fire destroyed more than half the building, and ten months since the start of a multi-stage reconstruction effort, skilled workers are laying a new copper roof on parts of Copenhagen 's Old Stock Exchange building.
The Aug. 1 deadline for Trump's 50% copper tariffs signals the endgame for the most profitable trade that industry veterans say they have ever seen.
President Trump wants America to produce more of the much-needed mineral, but a 50 percent tariff could undermine his aim of a manufacturing renaissance.
Freeport-McMoRan could see a $1.6-billion boost to annual profit if President Donald Trump's copper tariff materializes, a benefit driven by the firm's role as the largest U.S. producer with more expansion options than rivals.
2don MSN
Manufacturers and construction companies — as well as consumers — would face higher prices if the U.S. jacks up tariffs on copper, analysts said.
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The metal is used in manufacturing everything from automobiles to mobile phones.
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.
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