Copper registered a second weekly decline in London as the market digested the impact of President Donald Trump’s shock decision to exempt refined forms of the metal from hefty US import tariffs.

U.S. copper prices plunged after President Trump unveiled 50% tariffs on copper products, but not on the raw material itself. Copper prices surged to records this month after Trump said he would impos

The president stopped short of putting a 50 percent tariff on refined copper, as he had threatened earlier this year. The market reaction was swift anyway and prices tumbled.