Copper Tsunami Hits US Ports as Global Traders Beat Tariff Deadline
Copper Rush: How Looming US Tariffs Are Reshaping Global Trade and Driving Record Shipments to American Ports

A tidal wave of refined copper is headed for US ports as traders scramble to get ahead of possible import tariffs. Between 100,000 and 150,000 metric tons are expected to arrive in the coming weeks, according to sources familiar with the shipments. If the full volume lands in the same month, it would shatter the previous record of 136,951 tons set in January 2022.
This massive movement of copper is being led by some of the biggest commodities traders in the world, including Trafigura Group, Glencore Plc, and Gunvor Group. With the threat of US President Donald Trump imposing tariffs on copper imports, traders are shifting shipments from Asia to America, seeking to capitalize on price differentials before any restrictions take effect. Warehouses in New Orleans and Baltimore are bracing for an unprecedented surge, with additional storage being secured to accommodate the influx.
Trump’s Tariff Threat and the Copper Rush
Trump’s decision to order the US Commerce Department to investigate copper tariffs has sent shockwaves through the market. The move triggered a spike in copper futures on New York’s Comex exchange, pushing US copper prices above international benchmarks. The price gap between Comex and the London Metal Exchange (LME) reached an astonishing $1,200 per ton, creating a financial goldmine for traders who can move metal into the US before tariffs are enacted.
Goldman Sachs and Citigroup predict that the US could slap a 25% tariff on copper imports by the end of the year. Such a move would send ripples through the global supply chain, forcing buyers to rethink sourcing strategies. Even with the looming tariffs, American manufacturers have little choice but to rely on imported copper. The US consumes twice as much copper as it produces, making foreign metal a necessity for everything from construction to electronics manufacturing.
A Global Supply Chain Shift
The rush to bring copper into the US is already reshaping global supply chains. China, the world’s largest copper consumer, is feeling the squeeze as shipments that would typically head to Asia are being diverted westward. The sudden shift has left Chinese buyers scrambling, with copper shipments into the country expected to drop by as much as a third in April and May.
Chilean state-run miner Codelco, the world’s largest copper producer, is under mounting pressure to meet rising US demand. Chairman Maximo Pacheco acknowledged the shift, stating that American buyers are urgently seeking more copper amid tariff uncertainty. Meanwhile, suppliers in Mexico and Canada, traditionally key sources for US copper, are now weighing whether to divert some shipments to Europe due to Trump’s broader trade restrictions.
What This Means for Copper Prices and the Market
The impact of this trade frenzy is already being felt in the markets. US copper prices are soaring, and traders are scrambling to exploit arbitrage opportunities created by price discrepancies between exchanges. Analysts believe that tariffs could further drive up US prices while limiting supply elsewhere, leading to a more fractured global copper market.
Goldman Sachs warns that tariffs could reduce China’s copper refining activity by as much as 20,000 tons per month in the first quarter alone. Given that the global copper market was already expected to face a 180,000-ton deficit this year, such disruptions could tighten supply even further.
The long-term implications remain uncertain. Will the US become a permanent top destination for global copper shipments? Will China be forced to rework its supply strategies? And most importantly, how will manufacturers, construction firms, and tech companies absorb the added costs of higher copper prices?
Conclusion
The race to flood US shores with copper is just the latest chapter in an ongoing battle over trade policy, supply chains, and global market dynamics. Traders are taking advantage of the tariff uncertainty, shifting massive volumes of metal to American warehouses while Chinese buyers struggle to secure supply. As speculation swirls around potential US tariffs, one thing is clear: the copper market is facing one of its most dramatic shake-ups in years, and the ripple effects will be felt worldwide.
