Business
Global Markets No More: Trade Barriers Mess With Commodities From Metals to Oil
Gone are the days of open trade in commodities. Trade barriers and hoarding—by governments, traders and even investors—are the features of today’s markets. That is fragmenting commerce and fueling price volatility.
Take copper. After President Trump announced last year that he would impose tariffs on the red metal, traders stockpiled it in the U.S., sending the U.S. price surging much higher than the price in London. At one point last summer, copper futures on the U.S. Comex were 30% pricier than cash copper prices on the London Metal Exchange.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8