Copper, FCX Stock Plunge On Tariff Report, Surging Yields; Silver, Gold Also Fall
Copper prices and mining stocks are falling as reports emerge that the White House has stalled its copper tariff plan due to affordability concerns. Freeport-McMoRan stock sank 8% according to Yahoo Finance, while other reports state it closed Thursday at $71.21, down 6.6%. This sell-off reverses a record rally driven by AI-fueled demand and tariff speculation. The decline coincides with surging yields and losses in gold and silver. Market uncertainty centers on whether the administration will drop the plan to avoid increasing manufacturing costs.
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- ✓ Freeport-McMoRan, Teck Resources, and Southern Copper stocks declined.
- ✓ AI is increasing the demand for copper.
- ✓ Copper prices previously reached record highs due to tariff uncertainty and the AI boom.
- ✓ Gold and silver prices fell alongside copper.
What changed
Reports indicate the White House copper tariff plan has stalled over concerns regarding manufacturing costs.
Live updates
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Copper and Mining Stocks Plunge on White House Tariff Uncertainty
Copper prices and mining stocks are falling as reports emerge that the White House has stalled its copper tariff plan due to affordability concerns. Freeport-McMoRan stock sank 8% according to Yahoo Finance, while other reports state it closed Thursday at $71.21, down 6.6%. This sell-off reverses a record rally driven by AI-fueled demand and tariff speculation. The decline coincides with surging yields and losses in gold and silver. Market uncertainty centers on whether the administration will drop the plan to avoid increasing manufacturing costs.
Why it matters
The AI boom has increased demand for copper, pushing prices toward record highs. Mining companies like Freeport-McMoRan expected US tariffs to benefit their domestic operations. Current volatility reflects a conflict between long-term AI growth and immediate policy uncertainty.
What is confirmed
- Freeport-McMoRan, Teck Resources, and Southern Copper stocks declined.
- AI is increasing the demand for copper.
- Copper prices previously reached record highs due to tariff uncertainty and the AI boom.
- Gold and silver prices fell alongside copper.
Still unconfirmed
- Freeport-McMoRan stock fell 6.6% on Thursday to close at $71.21.
What to watch next
- Official White House confirmation or denial of the tariff plan status
- Federal Reserve updates on yields affecting commodity pricing
confidence 85%Sources used for this update (7)
- CNBC — AI is fueling copper demand. Kevin Simpson thinks this volatile miner is worth the risk
- Reuters — White House copper tariff plan stalls amid affordability concerns, sources say
- CNN — The AI boom and tariff uncertainty are pushing copper prices to record highs | CNN Business
- Investor's Business Daily — Copper Dives On Tariff Report, Oil Prices, Yields; Silver, Gold Also Down
- Yahoo Finance — Copper Stocks Tumble as Tariff Doubt Reverses Record Rally: Freeport-McMoRan Sinks 8%, Teck Resources and Southern Copper Drop 7%
- Bloomberg.com — Copper Heads for Weekly Loss as Doubts on US Tariffs Intensify
- finance.yahoo.com — Why Did Freeport-McMoRan Stock Drop On Doubts Over A Tariff It Would Gain From?
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