Geopolitical Events - Copper Timeline
Explore geopolitical events that impacted copper prices from 1971 to 2024.
Event Type
U.S.-China Trade War Begins
President Trump imposed tariffs on $34 billion of Chinese goods, marking the start of the U.S.-China trade war. China immediately retaliated with matching tariffs. The escalating conflict disrupted global supply chains, slowed economic growth, and created sustained uncertainty. Gold rallied from $1,250/oz to $1,550/oz over 14 months as investors hedged against economic slowdown and currency devaluation. Industrial metals like copper suffered from reduced manufacturing demand.
Price Movement
$1,550/oz in Aug 2019
14 months
From $3.30/lb to $2.70/lb
12 months
Sources: U.S. Trade Representative, LME
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