Metal Meltdown: Hindustan Copper, SAIL, Tata Steel Fall Up To 3.5% — What’s Behind The Selloff? | Markets News

Last Updated:July 09, 2025, 11:17 IST

Hindustan Copper and Tata Steel experienced a significant decline of up to 3.5% after President Trump announced a 50% tariff on copper imports

Trump tariffs on copper imports

Metal Stocks Under Pressure: Domestic metal stocks came under heavy selling pressure on Wednesday, with counters like Hindustan Copper, SAIL, Tata Steel, Jindal Stainless, Vedanta, and NMDC falling as much as 3.5% intraday. The slump came after U.S. President Donald Trump expanded his tariff regime to include copper, stoking fears of further trade restrictions on metals and commodities.

Trump, speaking at a Cabinet meeting on Tuesday, announced plans to impose a 50% tariff on copper imports in an effort to encourage domestic production and curb reliance on overseas supply. The US currently imports nearly half of its copper needs, with Chile being the largest supplier.

“Today, we’re doing copper,” Trump said. “I believe the tariff on copper — we’re going to make it 50%.” However, he did not specify the effective date of the new duty.

This announcement follows the earlier imposition of steep 50% tariffs on steel and aluminium imports, raising investor concerns that the trade crackdown could soon extend to other industrial commodities.

Hindustan Copper was the biggest loser among metal stocks, tumbling 3.5% to Rs 264 per share. SAIL dropped 2.35% to Rs 131.82. Other notable decliners included Tata Steel, Jindal Stainless, Vedanta, NMDC, Hindalco Industries, Hindustan Zinc, and Jindal Steel & Power — all falling over 1%.

Ripple Effect On Copper-Dependent Industries

Copper is a key component in sectors such as electronics, construction, automotive, and electrical equipment manufacturing. Any steep hike in copper prices is likely to impact cost structures across these industries.

Since February, when Trump first hinted at copper tariffs, global traders rushed to ship record volumes of the metal into the US ahead of potential restrictions. With a 50% tariff now on the table, that trade window may soon shut.

On Tuesday, copper futures spiked 17% on Comex — the sharpest one-day gain ever — touching a record high before sliding over 4% on Wednesday. On the London Metal Exchange (LME), copper dropped 2.4% in early trade before paring losses to trade 0.7% lower at $9,722 per tonne as of 10:35 a.m. Singapore time.

Trump has also hinted at further tariff actions — this time targeting pharmaceutical imports — adding to the growing list of trade concerns for global markets. Investors remain cautious amid the evolving policy landscape, particularly as trade-related volatility increasingly drives market sentiment.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Aparna Deb

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More

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