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Goldman Sachs released a tariff forecast: the possibility of the USA imposing a 10% tariff on Copper in Q1 is about 50%.
① Wall Street traders are preparing to analyze Trump's inauguration speech word by word, to determine the impact of his policies on the market; ② Goldman Sachs stated the likelihood of a 10% tariff on Copper by the USA in Q1 is 50%, which is basically consistent with Goldman Sachs' own forecast; ③ The oil market believes the likelihood of Trump imposing tariffs on oil is close to 40%, higher than Goldman Sachs' expected 15%; additionally, Goldman Sachs said the likelihood of tariffs on Gold is only 10%.
Chile lowers its copper production forecast, expecting production to reach 5.54 million tons over the next decade.
Chile has lowered its Copper production forecast for the next decade, adopting a more conservative approach, and Analysts may adjust their Global supply models as a result.
Copper Outlook Pressured by Anticipated Trump Policies, BMI Analysts Say
Trump's team plans to gradually raise tariffs, putting pressure on the dollar, while Copper prices continue to rise.
Copper prices continued to rise this year, as reports indicate that the incoming Trump administration will gradually raise trade tariffs instead of making a significant increase all at once.
Concerns over Trump's tariffs are intensifying, causing Silver and Copper prices in the USA to diverge from international benchmarks and surge.
Copper and Silver Futures prices in New York have soared above international benchmark prices.
Commodity Roundup: Natgas Futures Up, Industrial Metals Have Muted Start to 2025