Today, analysts from Goldman Sachs stated that there is a 50% chance of a 10% tariff being imposed on copper in the United States by the end of the first quarter. This statement, made in a client note and published by Yahoo, has generated significant interest among market participants.
Goldman Sachs analysts highlighted that they also estimate a 50% probability of a 10% tariff on copper by the end of the year. This assumption is based on current economic and political conditions. Imposing tariffs on strategically important metals like copper could significantly impact numerous industries, including construction and electronics.
Meanwhile, three-month copper futures on the London Metal Exchange fell by 0.3%, reaching $9,167 per metric ton at 0706 GMT. This decline followed a monthly high reached last week. The market remains volatile, and additional tariffs could intensify this instability.
Goldman Sachs analysts also focused on the oil market. According to their data, there is nearly a 40% chance of a 25% tariff being imposed on Canadian goods, including oil. Such a development could substantially alter the trade dynamics of oil between the United States and Canada—the two largest economic partners.
Brent crude futures traded around $80.59 per barrel. Meanwhile, the more active April contract for WTI crude oil remained stable at $77.28. Potential tariffs could lead to significant changes in pricing and demand structures for oil.
The imposition of tariffs on copper and oil could have widespread implications for the global economy and various industries. For instance, an increase in copper costs could affect production chains in the automotive, construction, and electronics sectors, as copper is a key component in these fields.
For the oil industry, additional tariffs on Canadian oil could lead to changes in supply routes and increased logistics costs. This, in turn, could impact the final fuel prices for consumers and businesses.
Given Goldman Sachs' forecasts, market participants should closely monitor developments related to potential tariffs on copper and oil in the U.S. These measures could significantly influence global metals and energy markets, altering trade relations and pricing dynamics.
1 Comments
I hope this will not become a negative signal for raw materials