LME Metal Inventories Report: Copper, Aluminum, Lead, Zinc Down; Nickel Up; Tin Unchanged on September 2

US refined copper and copper alloy imports reached 225,094 mt in July, a record high, as traders continued to ship large volumes of copper ahead of potential US tariff hikes, according to official data released by the US Commerce Department on Thursday.The July imports reported by the Commerce Department were the highest monthly total since records began in 1990, up 78% MoM and 8% YoY, according to trade data monitoring agencies.The import surge comes as the market awaits clarity on proposed US import tariffs. The Commerce Department was originally due to submit an updated report on the copper market to President Donald Trump by June 30, but no announcement has been made since.

A mineradora sul-africana Sibanye-Stillwater anunciou que seu conselho aprovou o avanço do projeto de cobre-ouro Mt Lyell, na Tasmânia, Austrália, e do projeto de ouro Burnstone, na África do Sul, uma vez que os preços mais altos dos metais melhoraram sua posição financeira. A mineradora sediada em Joanesburgo planeja investir US$ 7,5 milhões no projeto Mt Lyell em 2026 para reiniciar a mina histórica perto de Queenstown, com o projeto de US$ 340 milhões visando a primeira produção de minério em 2029. Em plena produção, espera-se que a mina produza anualmente até 26 mil toneladas de cobre, 16 mil onças de ouro e 116 mil onças de prata.

A copper-zinc mine in northeastern Saskatchewan is about to achieve commercial production, and the Canadian federal government has designated it as a project of national significance.At a project update held in Saskatoon on Wednesday, Canadian miner Eldorado Gold said its Mcllvenna Bay underground mine produced copper concentrates in June and zinc concentrates in July, and plans to commence commercial production by the end of Q3 this year.