Comex copper futures soared 13.3% closing at $5.645 a pound, a record high for the front-month contract that exceeds records set in March.
It's also the largest one-day percentage gain on record.
The surge comes after President Trump says the U.S. is likely to impose a 50% tariff on copper imports into the U.S. The tariffs are the principal factor pushing up copper, James Cordier of Alternative Options Commodities says in a note.
