Live Updates > Live Update Details
2025-07-31 01:26:50
[Copper Tariffs Impending, U.S. Copper Inventories Rise to 21-Year High] Copper inventories in U.S. exchange warehouses have risen to a 21-year high, as traders stepped up shipments to the U.S. before Trump's tariffs take effect on August 1. As of Tuesday, copper inventories in seven U.S. Comex warehouses have soared 172% this year to 253,431 short tons, the highest level since 2004. Meanwhile, inventories in London Metal Exchange (LME) warehouses have fallen by about 50% this year. The contract traded on the LME is the international benchmark for the metal. Since Trump launched an investigation into potential copper tariffs under Section 232 in February, citing national security concerns, New York Comex copper prices have soared above the global benchmark. This huge price gap provides traders with the opportunity to reap huge profits by importing copper from the United States.
