Trump threatens to impose additional tariffs on the Greenland issue, and copper prices regain their upward momentum.

Due to factors such as the threat of President Trump imposing tariffs on Greenland and the weakening of the US dollar, the price of copper has regained its upward momentum. Trump announced that he will impose tariffs on eight European countries, including Germany and the UK, that oppose his plan to acquire Greenland. This move has driven up the prices of precious metals, with investors flocking to safe-haven assets. Although the US-Europe trade war may have a negative impact on industrial demand, the boost from some safe-haven buying seems to have spilled over into the base metals sector. Over the past five months, the price of copper has continued to rise, driven in part by a global copper supply shortage and the growth in demand driven by the artificial intelligence boom, which has significantly increased consumption of this metal widely used in electrical wiring, cables, and renewable energy equipment. In recent months, due to expectations of potential tariff policies, a large amount of copper has been shipped to the US, leading to a tightening of copper supply outside of the US. Furthermore, speculative investments have further pushed up copper prices in recent weeks, and the depreciation of traditional financial assets has also supported the price of copper as investors seek to avoid losses.