Copper Nears $13,000 as Dollar Weakens Amid Greenland Tariff Threats

• Copper prices surged towards $13,000 per ton, driven by a weakening dollar and President Trump's tariff threats over Greenland.
• Trump's proposed tariffs on eight European nations, including Germany and the UK, led investors to seek safe havens in precious metals, with some spillover into base metals.
• The metal has seen five months of gains due to supply shortfalls, demand from the AI boom, and increased consumption in wiring and renewable energy.
• Frenzied buying in China and a 'debasement trade' (investors avoiding traditional financial assets) have further fueled copper's rise.
• China's GDP met its target, but falling home prices indicate an ongoing property downturn, while aluminum output hit a record high and steel production fell to a seven-year low.

Why It Matters: Copper prices are soaring due to a weaker dollar, tariff threats, strong demand, and investor shifts.