Congo Copper Floods US Market as Buyers Seek Discounts to COMEX Prices

Congo's copper shipments to the United States have reached a record high in July, driven by U.S. buyers seeking cheaper alternatives to COMEX-deliverable brands.

The Democratic Republic of Congo imported 53,290 metric tons of copper cathodes to the U.S., accounting for 23.9% of total U.S. copper imports, which surpassed 220,000 tons for the first time.

This surge in shipments is attributed to both rising U.S. demand and Congo's growing ability to supply international markets.

Congo is the world's second-largest copper producer, with increased output giving traders more metal to place in markets beyond its traditional customer base.