Copper Prices Surge Near $14,000 per Ton Amid US Stockpile Buildup

Copper prices have reached their highest level in two months, nearing $14,000 per ton in London. This surge follows a significant increase in copper volumes arriving at US ports, with over 200,000 tons recorded in July alone.

This influx has led to a substantial buildup of copper stockpiles in American warehouses and ports, making it harder for buyers outside the US to access the metal.

The uncertainty surrounding Washington's plans for tariffs on refined copper remains, with no decision yet announced by President Donald Trump. Despite this, prices in the US have maintained a premium over those on the London Metal Exchange, keeping the trade profitable.