International News 12 August 2025
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Copper Prices Extend Gains on Rate Cut Hopes and Strong China Data
Copper prices rose for a third consecutive session on Friday, supported by optimism over a potential U.S. interest rate cut and upbeat Chinese economic data. Benchmark three-month copper on the London Metal Exchange (LME) gained 0.8% to $9,759 per metric ton, recovering from a three-week low hit on July 31. A weaker U.S. dollar—following President Donald Trump’s nomination for a vacant Federal Reserve seat—boosted sentiment, making dollar-priced commodities more attractive for buyers using other currencies. China’s July exports exceeded expectations amid a fragile tariff truce with the U.S., further improving the demand outlook. Analysts see short-term bullish potential for copper, with momentum models suggesting a move toward $10,000 per ton. On the Shanghai Futures Exchange, the most-traded copper contract edged up 0.1% to 78,490 yuan ($10,929) per ton, while U.S. Comex copper futures jumped 1.6% to $4.4925 per pound ($9,904 per ton), widening the premium over LME prices to $145. Supply risks also remain in focus after Chile’s Codelco sought approval to partially reopen a key mine following a fatal accident. Other base metals saw mixed moves, with aluminum flat at $2,610, zinc up 0.5% to $2,827, tin down 0.1% to $33,700, nickel up 0.3% to $15,160, and lead down 0.3% to $2,003 per ton.
Taiwan’s July Exports Surge 42% to Record High Ahead of US Tariffs
Taiwan’s exports in July 2025 soared 42% year-on-year to US$56.68 billion, marking the third consecutive monthly record and the fastest growth in 15 years. The surge was fueled by strong global demand for Taiwan’s technology and artificial intelligence products, as well as a rush of orders from overseas buyers seeking to avoid the new 20% U.S. import tariffs set to take effect this August. Taiwan’s Ministry of Finance said on Friday (Aug 8), as quoted by Reuters, that customers have accelerated shipments to get ahead of the tariffs. Negotiations between Taiwan and the U.S. are now in the final stages to secure fairer trade terms. Looking ahead, Taiwan remains optimistic that demand for AI-driven products and new technology applications will continue to grow in the coming months. Major Taiwanese companies, including TSMC—the world’s largest chipmaker—play a critical role as key suppliers to global tech giants such as Apple and Nvidia, further cementing the island’s pivotal position in the global technology supply chain.