Global Commodities: Tariff shockwaves churn crude and copper markets

At Any Rate

Trade negotiations and tariffs continue to roil commodity markets with the Trump administration warning that India and China will face penalties due to their ongoing purchases of Russian oil while also shocking the copper market this week by exempting refined copper cathode from Section 232 duties. Natasha Kaneva is joined by Greg Shearer to discuss these developments and how they shape the outlook on prices over the balance of the year.

Speakers:
Natasha Kaneva, Head of Global Commodities Research
Gregory Shearer, Head of Base and Precious Metals Research

This podcast was recorded on August 1, 2025.

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