U.S. Copper Demand Expected to Decrease COMEX Stockpile, Aurubis CEO Indicates
Aurubis anticipates a decline in COMEX copper inventories, currently at 532,000 metric tons, due to robust U.S. demand. This shift is expected as Aurubis progresses on its Richmond, Georgia recycling plant expansion, set for completion by September.
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Aurubis CEO Toralf Haag forecasts a reduction in copper stockpiles on the COMEX exchange due to increasing local demand. Current inventories stand at 532,000 metric tons, nearly 25% of annual U.S. consumption, with a peak of 546,000 tons in February.
The company is advancing plans for its Richmond recycling facility, with completion expected by September. Decisions regarding further expansion or new facilities will likely occur by late 2026. Additionally, demand for sulphuric acid is rising due to market disruptions. These dynamics could significantly impact pricing and supply chain strategies in the copper industry as demand from sectors such as power and construction continues to grow.
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