LME copper stocks in US climb to 12-year high
BUSINESS RECORDER • • 1 min read
Copper held in US-based London Metal Exchange (LME) warehouses has risen to 169,475 metric tons, its largest total since April 2014, Business Recorder reported on October 22. The warehouses now contain about 62% of LME copper stocks, the highest share since March 2019. Wednesday brought 24,225 tons into New Orleans and another 2,450 tons into Baltimore.
The build-up is occurring ahead of a possible US tariff on refined copper imports, although Washington has not confirmed whether the measure will proceed. The Commerce Department has proposed a 15% duty from 2027, increasing to 30% in 2028. Meanwhile, COMEX inventories have risen for 23 consecutive days to a record 794,450 short tons, equivalent to 720,712 metric tons.
At a glance
- US LME copper stocks reached 169,475 metric tons, the highest level since April 2014.
- COMEX copper inventories reached a record 794,450 short tons.
Originally reported by BUSINESS RECORDER
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