A Bloomberg report revealed that copper traders are scrambling to redirect shipments into Hawaii and Puerto Rico to beat the tariff deadline.

U.S. President Donald Trump has confirmed that the newly announced 50% tariff on copper imports will take effect on Aug. 1, revealing the date late on Wednesday in a post on Truth Social.

"I am announcing a 50% TARIFF on Copper, effective August 1, 2025, after receiving a robust NATIONAL SECURITY ASSESSMENT," Trump wrote.

"Copper is necessary for Semiconductors, Aircraft, Ships, Ammunition, Data Centers, Lithium-ion Batteries, Radar Systems, Missile Defense Systems, and even, Hypersonic Weapons, of which we are building many," he added. "Copper is the second most used material by the Department of Defense!"

"Why did our foolish (and SLEEPY!) 'Leaders' decimate this important Industry? This 50% TARIFF will reverse the Biden Administration's thoughtless behavior, and stupidity. America will, once again, build a DOMINANT Copper Industry. THIS IS, AFTER ALL, OUR GOLDEN AGE!"

U.S. Commerce Secretary Howard Lutnick earlier said the move brings copper tariffs in line with U.S. duties on steel and aluminum imports, which Trump doubled to 50% in early June.

Copper prices rose in early Asian trading on Thursday. The benchmark three-month London Metal Exchange (LME) contract climbed 0.35% to $9,664.50 per ton, while Comex futures in New York spiked to a record Tuesday before paring gains on Wednesday.

A Bloomberg report revealed that copper traders are scrambling to redirect shipments into Hawaii and Puerto Rico to beat the tariff deadline. Delivering metal into U.S. ports before Aug. 1 could mean sizable profits — or steep losses if delays occur. 

New York futures prices have reportedly surged to a roughly 25% premium over global benchmarks, encouraging some traders to offer as much as $400 per ton above LME prices to secure metal eligible for Comex delivery.

The U.S. imports nearly half the copper it consumes, most of it from Chile, according to the U.S. Geological Survey. Domestically, the U.S. has only three operational copper smelters.

Shares of Freeport-McMoRan (FCX), the world's largest publicly traded copper producer, ended Wednesday down nearly 1.5% but gained 0.3% in after-hours trading. Retail sentiment on Stocktwits remained 'extremely bullish.'

Meanwhile, U.S.-listed shares of Vancouver-based Ero Copper Corp (ERO) dropped more than 9% during Wednesday's session before rising 1.8% after hours. Sentiment on Stocktwits was also 'extremely bullish.'

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