Copper futures surged after President Donald Trump ordered the US Commerce Department to examine possible imports tariffs on all forms of the metal.

President Trump ordered Commerce to study whether tariffs are needed to reduce the U.S. reliance upon imported copper, needed for military equipment, data centers and electric vehicles.

U.S. President Donald Trump on Tuesday opened yet another front in his assault on global trade norms, ordering a new probe into possible new tariffs on copper imports to rebuild U.S. production of a metal critical to electric vehicles,