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US copper futures plunged about 20% in an hour after the White House cancelled a planned 50% tariff on refined copper imports, focusing instead on semi-finished goods. Silver gains for July were trimmed as copper's shock spilled over into precious metals.
The reversal of a major tariff shows how quickly trade policy can reprice commodities; for feed buyers the effect is mostly through metals and trade-policy sentiment rather than feed grains.
bullionvault.comAdrian AshJul 31, 2025After 13 past neutral trade events, US Dollar (Broad) moved a median -0.3% over 5 sessions (31% higher; middle half -0.7% to +0.1%), and -0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
