Copper futures traded around $6.45 per pound on Friday after falling nearly 5% in the previous session as reports that the United States was reconsidering refined-metal tariffs pressured prices. Officials were concerned that the proposed duties could lift domestic copper prices and manufacturing costs. Copper had reached record highs earlier in the week after traders redirected shipments to U.S. warehouses to capture tariff-related price gains, tightening global supplies. The market is also facing shortages of sulfuric acid used by major refiners, while China suspended exports amid supply pressures from GCC countries. Codelco and Freeport-McMoRan have reportedly recorded double-digit production declines, following a 1.1% first-half drop in global mined output cited by the International Copper Study Group. The tariff uncertainty also weighed on Freeport-McMoRan shares and other base metals.