Copper prices on the London Metal Exchange rose during Tuesday's trading, despite uncertainty over US tariffs and expectations of increased supplies from Chile, which negatively impacted investor sentiment.
The most actively traded copper futures contract on the London Metal Exchange rose 0.2% to $9,849 per tonne at 12:32 p.m. Mecca time.
This comes amid growing concerns about the impact of the latest move by US President Donald Trump's administration, which included notifying 14 countries of new tariffs ranging from 25% to 40% effective August 1.
This is in addition to the threat of an additional 10% tariff on BRICS countries, including Brazil, Russia, India, and China, if they pursue what Trump described as anti-US policies.
Chile's copper export revenues increased by 17.6% year-on-year in June, to $4.67 billion, which ANZ analysts described as the best monthly performance for Chilean mine revenues in more than three years.
