Copper Breaks Records On China Stimulus, Tariff Hype: These Stocks Are Riding The Wave

Copper just blew past record highs, dismissing recent recession fears as stimulus optimism in China and potential U.S. tariffs spark a rush into the red metal.

Copper futures traded at the New York Mercantile Exchange rallied 1.6% to $5.17 per pound on Tuesday, notching historical records.

What's Fueling Copper's Relentless Climb?

Often dubbed “Dr. Copper” for its reputation as a proxy for global industrial health, the metal has surged as traders bet on a brighter economic outlook in China and react to tariff risks.

"Tariff threats, tightening supply, and stimulus-fueled optimism for an economic rebound in China have underpinned a rally in copper," said Adam Turnquist, chief technical strategist for LPL Financial.

“Beijing's pro-growth agenda is beginning to show up in the economic data, evidenced by recent better-than-expected retail sales, industrial output, and fixed-asset investment,” he added.

Turnquist indicated markets are already "front-running" the potential copper tariff ordered under former President Donald Trump's direction, even though an official recommendation isn't expected until later this year.

Bloomberg data shows that between 100,000 and 150,000 metric tons of copper are en route to the U.S., ...