Prysmian jumps on potential boost from U.S. copper tariffs

Prysmian, listed on Euronext Milan and active in the energy and telecom cable systems sector, had a strong trading session. The introduction of 50% tariffs on copper imports into the U.S. could provide a competitive edge for the Italian group, which has its own copper production capacity in the country.

“While we’ll need to wait to see the final outcome, the U.S. copper tariffs could positively impact Prysmian,” said a company spokesperson. “We are the largest single copper buyer globally and the cable market leader in the U.S. Our U.S. business is well positioned thanks to vertical integration in copper, including Encore Wire.”

“Copper, like aluminum, is central to the U.S. administration’s energy goals,” the spokesperson added. “We’re committed to supporting local industrial reshoring, AI development via data centers, and strengthening the U.S. power grid through our market leadership.”

Prysmian shares rose 2.95% to €61.34. The bullish trend is expected to continue, with resistance levels at €61.93 and €63.37, and support at €60.49.