Copper Rush Hits US Ports as Auto Industry Warns of Chinese Imports

A surge in copper shipments to the US is putting pressure on major ports, including the Port of New Orleans, which is nearing capacity. The influx of about 100,000 metric tons of African and South American copper in September and October has driven a sharp rally in US copper prices. This comes as the tariff decision remains uncertain, and some shipments could be redirected to Asia if tariffs are imposed. Bloomberg reports that Comex-approved warehouses are rapidly expanding storage capacity to accommodate the additional copper.

The increased demand for copper is not only affecting ports but also the automotive industry. Major trade associations representing automakers, suppliers, and dealers have signed a letter urging President Donald Trump to maintain policies restricting Chinese car imports. They argue that expanded access could affect domestic manufacturing and competition. This comes ahead of Trump's expected meeting with Chinese President Xi Jinping.

Meanwhile, Disney has hired Character.AI CEO Karandeep Anand as its first chief technology officer. As CTO, Anand will oversee the company's technology, infrastructure, data, AI platforms, product, and engineering teams. He brings experience from Meta and Microsoft to his new role, where he aims to strengthen Disney's digital capabilities.