Why does Aurubis CEO expect the COMEX copper stockpile to decline in the coming months?

Aurubis CEO Toralf Haag expects the COMEX copper stockpile to decline 'over the next months through strong local demand', citing it as a 'security of supply issue'—noting that the current inventory of 532,000 metric tons (nearly a quarter of annual U.S. consumption) was built up last year ahead of possible tariffs, and that domestic demand is now set to draw it down.

What are Aurubis's near-term U.S. investment plans, and how has their timeline shifted?

Aurubis is set to complete the 90,000 tons per year second phase of its Richmond, Georgia recycling plant by the end of September; however, the decision on whether to expand that facility, build another U.S. recycling plant, or construct a primary copper smelter—originally expected in northern hemisphere summer—has been delayed and will now 'most likely come by the end of 2026'.

Aurubis CEO Expects US Copper Demand to Reduce Comex Stockpile

Apr 14, 2026

Aurubis CEO predicts U.S. copper stockpiles will decrease due to rising local demand and infrastructure needs. Additionally, the company notes increased sulphuric acid demand linked to geopolitical conflicts and plans facility expansions.

reuters

2026-04-14

Aurubis CEO Expects US Copper Demand to Reduce Comex Stockpile

2026-05-27

Copper’s Giant Tariff Trade Is Back and Squeezing Global Market

Aurubis CEO Expects US Copper Demand to Reduce Comex Stockpile

FAQ