100K-150K metric tons of copper to arrive in the US
The U.S. will soon be flooded with massive amounts of copper shipments in a global rush to front-run President Trump’s probable tariffs, with 100K-150K metric tons of refined copper expected to arrive in U.S. ports in the coming weeks, which potentially would surpass the all-time record of 136,951 tons set in January 2022, Bloomberg reported Wednesday.
Goldman Sachs analysts said they expect all forms of copper shipped to the U.S. to be hit with tariffs by year-end, keeping Comex prices at a hefty premium over other benchmarks, and noted that tariffs could cause China to refine 10K-20K tons/month less copper within the first three months – in a global market that Goldman already expected to face a 180K-ton deficit this year.
Source – Seeking Alpha