Copper's immediate-delivery premium reached 370 dollars a tonne on the London Metal Exchange; the United States imposed up to 100 per cent duties on heavy drones while Singapore's non-oil exports rose 24.2 per cent.
Economics & Markets··Evening
Copper buyers pay up for metal now
The premium for copper delivered now over metal delivered in three months on the London Metal Exchange reached 434 dollars a tonne, the widest since 2021, and the front-month spread hit 370 dollars a tonne on 14 August. Stocks in LME warehouses have fallen for 42 consecutive trading days, the longest run since 2014. Inventories stand at about 204,975 tonnes, down from more than 400,000 tonnes earlier in 2026, and close to half of what remains is already earmarked for withdrawal. Traders expect tariffs to make United States prices more attractive and have been redirecting copper toward America. A near-term premium of this size shows buyers competing for metal available now rather than metal promised later.[1]
Heavy drones face up to 100 per cent border duty
The United States will charge up to 100 per cent on drones heavier than 25 kilograms or carrying sensitive capabilities and 25 per cent on smaller ones, under a proclamation whose main levies take effect 21 days after signing. Taiwan, the European Union, Japan and Switzerland face 15 per cent when all hardware and technology originate in those countries or the United States, and the United Kingdom faces 10 per cent. Tariffs on components that are not sensitive begin after 180 days. DJI Technologies of Shenzhen held about 70 per cent of the United States commercial drone market. Chinese drone exports to the United States were about 50 million dollars in the first half of 2026, down from about 100 million dollars a year earlier.[2]
Singapore's chip exports soar as medicines fall back
Singapore's non-oil domestic exports rose 24.2 per cent in July, after a 20.8 per cent rise in June, according to Enterprise Singapore data published on Monday. The increase fell short of the 26.8 per cent private-sector economists had forecast. Electronics exports expanded 112 per cent, from 105.1 per cent the month before, led by disk media products, integrated circuits and personal computers. Non-electronics shipments fell 2.3 per cent, dragged down by pharmaceuticals, petrochemicals and food preparations. Total merchandise trade grew 38.6 per cent year on year. Exports rose to nine of the top ten markets, led by the United States at 62.8 per cent, while shipments to the European Union's 27 members fell 35.5 per cent, reversing the 20.8 per cent growth of the month before.[3]
