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ANZ Senior Commodity Strategist Daniel Hynes says the market overreacted as copper prices have now plunged following clarification on US tariffs. “Copper markets and commodities in general are a global market, so whatever happens in the US is going to have an impact globally,” Mr Hynes told Sky News Australia. “We’ve obviously seen the impact up until today with those US prices really surging as the market started to price in the impact of those tariffs, now that it looks like its not being applied to refined metal, only to those semi-processed or finished products, we’ve obviously seen the US copper price fall dramatically. “These tariffs don’t fundamentally change that really strong outlook over the longer term.”