{"id":59068,"date":"2026-02-24T20:08:42","date_gmt":"2026-02-25T00:08:42","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-surge-copper-hits-13200-as-us-tariff-setbacks-shift-geopolitical-leverage\/59068\/"},"modified":"2026-02-24T20:08:42","modified_gmt":"2026-02-25T00:08:42","slug":"global-markets-surge-copper-hits-13200-as-us-tariff-setbacks-shift-geopolitical-leverage","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-surge-copper-hits-13200-as-us-tariff-setbacks-shift-geopolitical-leverage\/59068\/","title":{"rendered":"Global Markets Surge: Copper Hits $13,200 as US Tariff Setbacks Shift Geopolitical Leverage"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Copper prices surged toward $13,200 per ton<\/strong> on the London Metal Exchange (LME) as China\u2019s post-holiday reopening coincided with a landmark <strong>U.S. Supreme Court (SCOTUS)<\/strong> ruling against <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>-era tariff measures.<\/li>\n<li><strong>VLCC tanker rates<\/strong> on the Saudi Arabia\u2013China route hit a six-year high, nearing <strong>$200,000 per day<\/strong>, driven by aggressive fleet consolidation by the <strong>Sinokor Group<\/strong>.<\/li>\n<li><strong>Beijing has gained significant strategic leverage<\/strong> ahead of the upcoming summit between President <strong>Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a><\/strong> and <strong>Xi Jinping<\/strong> following domestic legal defeats for the White House&#39;s trade policy.<\/li>\n<li><strong>Japan\u2019s Services PPI held steady at 2.6%<\/strong> in January, meeting market expectations and reinforcing the <strong>Bank of Japan\u2019s<\/strong> outlook for persistent, wage-driven inflation.<\/li>\n<li><strong>Diplomatic tensions between the U.S. and France<\/strong> eased as Ambassador <strong>Charles Kushner<\/strong> regained direct access to French officials after pledging not to interfere in domestic politics.<\/li>\n<\/ul>\n<h2>Commodities and Trade Policy Shifts<\/h2>\n<p><strong>Copper<\/strong> prices reached a milestone of <strong>$13,200 per ton<\/strong> on the <strong>LME<\/strong> this week, marking a significant rally for industrial metals. The surge was fueled by <em>improving sentiment<\/em> following a <strong>SCOTUS<\/strong> ruling that struck down several of President <strong>Donald Trump\u2019s<\/strong> &quot;reciprocal&quot; tariff measures, which had previously weighed on global trade outlooks.<\/p>\n<p>Major mining firms such as Freeport-McMoRan (<a href=\"\/stock\/FCX\">FCX<\/a>) and Southern Copper (<a href=\"\/stock\/SCCO\">SCCO<\/a>) are expected to benefit from the <em>lifting of trade uncertainty<\/em>. Analysts noted that the ruling, combined with the reopening of Chinese markets after the Lunar New Year, has provided a dual catalyst for the base metals complex.<\/p>\n<p>The <strong>Washington Post<\/strong> reports that the &quot;tariff chaos&quot; resulting from the court&#39;s decision has handed a tactical victory to <strong>Beijing<\/strong>. This shift in leverage comes just weeks before a high-stakes meeting between <strong>Trump<\/strong> and <strong>Xi Jinping<\/strong>, where trade concessions were expected to be a central theme.<\/p>\n<h2>Shipping Rates and Energy Logistics<\/h2>\n<p>Day rates for <strong>Very Large Crude Carriers (VLCC)<\/strong> on the critical <strong>Saudi Arabia\u2013China<\/strong> route have skyrocketed to nearly <strong>$200,000<\/strong>, the highest level in almost six years. The spike is largely attributed to aggressive chartering by the South Korean <strong>Sinokor Group<\/strong>, which has significantly tightened the global supply of available tankers.<\/p>\n<p>The consolidation of the tanker fleet has left charterers with limited options, benefiting public shipowners like DHT Holdings (<a href=\"\/stock\/DHT\">DHT<\/a>), Frontline (<a href=\"\/stock\/FRO\">FRO<\/a>), and Teekay Tankers (<a href=\"\/stock\/TNK\">TNK<\/a>). <em>Market participants expect rates to remain volatile<\/em> as geopolitical tensions in the Middle East continue to add a risk premium to long-haul energy shipments.<\/p>\n<h2>Macroeconomic and Diplomatic Developments<\/h2>\n<p>In Japan, the <strong>Services Producer Price Index (PPI)<\/strong> rose <strong>2.6%<\/strong> year-on-year in January, matching both the previous month&#39;s figure and analyst estimates. This stability in service-sector inflation supports the <strong>Bank of Japan\u2019s<\/strong> view that a tight labor market is successfully driving wage growth and domestic price pressure.<\/p>\n<p>On the diplomatic front, <strong>France<\/strong> has agreed to restore government access for U.S. Ambassador <strong>Charles Kushner<\/strong>. The decision by Foreign Minister <strong>Jean-No\u00ebl Barrot<\/strong> follows a period of friction and comes after <strong>Kushner<\/strong> provided assurances that he would refrain from interfering in French domestic political affairs.<\/p>\n<p>This easing of tensions between <strong>Paris<\/strong> and <strong>Washington<\/strong> is seen as a <em>stabilizing move<\/em> for the transatlantic alliance. It follows a series of recent disagreements over trade tariffs and public comments that had briefly hindered direct communication between the two nations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Copper prices surged toward $13,200 per ton on the London Metal Exchange (LME) as China\u2019s post-holiday reopening coincided 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