Oliver Bunic / Bloomberg via Getty Images
Copper futures in New York reached a record-high Wednesday, on the back of a report that U.S. import tariffs are expected to come within a few weeks. This is months before the deadline for the decision.
Copper on New York Comex had a record price of $5.374 for a pound a few months ago, but recently traded at $5.277.
U.S. president Donald Trump had instructed the Commerce Department on February 25 to launch an investigation into tariffs on Copper and submit a final report within 270 day of that date. The investigation is "now expected to be resolved sooner," Bloomberg reported, citing people familiar with the matter.
The White House didn't immediately respond to an Investopedia request for comment.
Copper prices have increased in recent years as a result of the demand for large data centers that power artificial intelligence.
