The United States imported a record 225,094 metric tons of refined copper and copper alloys in July 2026, according to official data released by the U.S. Department of Commerce on Thursday. This represents the highest monthly import total in records dating back to 1990, based on data from Trade Data Monitor.
The July figure surged 78% compared to the previous month and increased 8% year-on-year. The dramatic increase reflects traders' efforts to bring large volumes of copper into the United States before potential tariffs are imposed on the metal. Market participants continue to await clarity on a proposed U.S. import tariff on copper.
The Department of Commerce was scheduled to provide President Donald Trump with an update on copper markets by June 30, but no announcement has been made since that deadline. The tariff uncertainty has contributed to a significant accumulation of copper inventories on the COMEX exchange. Copper stocks on the U.S.
COMEX have risen for 53 consecutive days to reach an all-time high of 764,597 short tons, equivalent to 693,630 metric tons. Regarding import sources, Chile supplied approximately 46% of U.S. copper imports in July, reinforcing its position as the world's largest copper-mining nation. The Democratic Republic of Congo ranked as the second-largest supplier, providing almost one-quarter of the total import volume.
For the first seven months of 2026, U.S. copper imports totaled 1.12 million tons, representing a 4.2% increase compared to the same period in 2025. In 2025, the market faced similar tariff threats before refined copper was ultimately granted an exemption. Copper prices on the market were trading at $5.6358 per pound at the time of reporting, up 2.72% in the session.
Source: mining.com