Can the US Retain its Hold on its Current Stockpile of Copper?
In February last year, President Trump ordered a national security investigation into imports of copper into the U.S. The probe would allow the administration to decide whether to levy import tariffs on the refined metal or not. Since then, traders have been shipping copper into America in anticipation that once tariffs are imposed, they would make a killing selling the metal they had preemptively stockpiled in the country. That frontloading has led to copper stockpiles in the country rising to more than 1.10 million tons. Traders are still shipping even more metal into the U.S. as Trump keeps markets guessing…