The US has access to more than enough raw copper to meet domestic demand, according to new research on the crucial metal that suggests developing processing capacity is more important than an expansion of stockpiles planned by the Trump administration.
The country can meet 146 per cent of annual demand using raw copper from overseas and domestic mines and from scrap, analysis by Benchmark Mineral Intelligence found. The figure for China — the world’s largest consumer — is 40 per cent.
Copper prices have surged in recent months and the metal, vital for data centres, power grids and electronics, has become a focus for western policymakers eager to secure supplies of critical minerals and reduce reliance on China. The US has launched a $12bn minerals stockpiling effort.