The most actively traded copper futures contract in New York hit $5.374 per pound Wednesday morning before settling at a record $5.24 per pound. Copper prices have soared 30% this

Copper prices marched past $10,000 a ton on Thursday amid expectations that the U.S. will add copper to the list of metals subjected to tariffs. President Donald Trump last month ordered his Commerce Department to investigate the nation’s imports of copper as a likely precursor to imposing duties.

Copper prices have hit record highs as an ongoing trade war between the U.S. and its key trading partners threatens to squeeze supplies of the vital metal