Trump's announcement of a 50% tariff on copper imports led to soaring copper prices to record highs this week.
Morgan Stanley has identified two companies, Freeport-McMoRan and Southern Copper Corporation, likely to benefit from the new duties on copper.
Freeport-McMoRan is seen as well-positioned due to its strong connections to COMEX options and futures market, while Southern Copper Corporation is expected to benefit from higher tariff pricing without needing to pay a tariff on Mexico COMEX contracts.
Trump's remarks caused copper prices to surge, impacting sectors such as building construction, equipment manufacturing, and electric vehicles.