A surge of copper shipments to the U.S. ahead of potential import tariffs is straining major ports, with the Port of New Orleans reportedly nearing capacity as about 100,000 metric tons of additional African and South American copper are expected in September and October.
The roughly $500 million Nord Norfolk shipment is the highest-value single commodity shipment recorded, while the influx has helped drive a sharp rally in U.S. copper prices. As the tariff decision remains uncertain and the price gap narrows, some shipments could be redirected to Asia, while Comex-approved warehouses are rapidly expanding storage capacity to accommodate the additional copper. Bloomberg has the full story.
