High copper prices and high premiums led to poor downstream willingness to rush to buy amid continuous price rise, resulting in overall weak transactions. [SMM South China Spot Copper]

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.

South African miner Sibanye-Stillwater announced that its board has approved advancing its Mt Lyell copper-gold project in Tasmania, Australia, and its Burnstone gold project in South Africa, as stronger metal prices have improved its financial position.The Johannesburg-based miner plans to invest $7.5 million in the Mt Lyell project in 2026 to restart the historic mine near Queenstown, with the $340 million project targeting first ore production in 2029. Once at full production, the mine is expected to produce up to 26,000 mt of copper, 16,000 oz of gold, and 116,000 oz of silver annually.

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.