US copper imports surge ahead of potential tariffs

Mercuria estimates that 500,000 tons of copper are heading to the US, far exceeding the usual 70,000-ton monthly imports, as traders anticipate potential tariffs, Bloomberg reported. The surge could drive copper prices to record highs and strain global supply, leaving China and other markets short, the report said, citing former Trafigura executive Kostas Bintas.

Last month, US President Donald Trump ordered an investigation into new copper import tariffs to boost domestic production of the metal, which is vital for electric vehicles, military hardware, and semiconductors. Moreover, Goldman Sachs recently projected that US net copper imports could rise by 50 to 100 per cent in the coming months due to price increases ahead of the tariffs.

Attribution: Reuters
Subediting: M. S. Salama