Tongling Metals Warns US Tariffs Are Short-Term Drag on Copper

Tongling Nonferrous Metals Group Co. said US tariffs will be a drag on copper in the short term, though it remains confident about the long-term growth trend underpinned by demand from the tech industry.

Recent US tariff policies “directly impacted the global market, increasing concerns about the curbing of global economic growth,” it said in an exchange filing. “Copper demand will also see a sharp decline in demand if global trade weakness and an expected slowdown in economic growth lead to lower industrial demand.”

The Chinese copper producer’s net income rose to 2.8 billion yuan ($383 million) in 2024 from ...