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macroAug 10, 2026, 11:38 AM

Copper Shifted to Policy-Driven Trade as Tariffs Reshape COMEX-LME Spread

Societe Generale analysts state copper has become a policy-driven market as Section 232 tariffs alter the COMEX-LME arbitrage spread.

HG

Societe Generale analysts Michael Haigh and Jeremy Sellem argue that copper has entered a policy-driven trade regime. Section 232 tariffs are reshaping the traditional spread between COMEX and LME copper contracts. The shift creates tariff-driven arbitrage opportunities as the price differential adjusts.

Source: FXStreet Forex News