US Copper Stockpiles at 21-Year High as Tariff Deadline Looms

Copper inventories at US exchange warehouses climbed to the highest in 21 years as traders rush shipments to America ahead of President Donald Trump’s Aug. 1 tariff deadline.

The amount of copper stored at seven Comex warehouses across the US has soared 172% this year to hit 253,431 short tons as of Tuesday, the highest since 2004, according to data compiled by Bloomberg.

Meanwhile, inventories held at the warehouses of the London Metal Exchange are down about 50% this year. LME-traded contracts are the international benchmarks for the metal.

Since Trump initiated a Section 232 investigation into potential copper ...