LondonCopper fell to $13,778 a tonne, its lowest since July.
Goldman Sachs says 45% of planned US data-centre capacity sits in states likely to restrict it.
Traders shipped copper into the US ahead of a promised tariff of at least 15%, so 90% of warehouse stocks now sit there.
Deutsche Bank analysts say copper bears need a recession, while bulls need only the current trend.
Trump still holds the executive power to impose the refined-copper tariff.
How each outlet framed it
- Financial Times News
- links copper's fall to Goldman's estimate that Democrat-led states hold about 45% of planned US data-centre capacity
Sources: Financial Times News