Imports of certain copper products into the US face a 50% tariff from Aug. 1 as President Donald Trump seeks to revive the domestic supply chain and make the country less reliant on foreign sources of this critical material.

While deGraaf said he thinks copper is now technically “oversold” but still within its broader trend, the market needs some time to stabilize. He said he expects volatility to

President Donald Trump’s decision this week to impose tariffs starting Aug. 1 on imports of certain copper products, but not on refined copper itself, tanked prices for the industrial metal on Thursday — and has likely brought a halt to a popular trading strategy.