US imports more Congo copper as consumer acceptance grows

U.S. buyers are increasingly turning to copper from the Democratic ​Republic of Congo, helping drive record imports from the African producer as industrial consumers ‌capitalise on discounts to COMEX-approved brands.

Copper cathode deliveries from the world's second-biggest copper-producing nation hit a record 53,290 metric tons in July, according to U.S. trade data. That gave Congo a 23.9% share of overall imports, which exceeded ​220,000 tons for the first time as traders rushed to ship metal ahead of a potential ​tariff.

The numbers illustrate the rise in popularity of Congo's copper in the United ⁠States, which imported less than 32,000 tons of copper from the country in the whole of ​2024. But Congo now has a lot more to sell due to higher production.

The US imported a record amount of DRC cathodes in July, but volumes have been inconsistent.

The increase is even ​more noteworthy given that no copper brands from the Congo are deliverable on the U.S. COMEX exchange. Only two African copper brands - both from Zambia - are on the COMEX list. More than one-third of COMEX-approved brands are from Chile ​and Peru.

Albert Mackenzie, copper analyst at Benchmark Mineral Intelligence, said this suggested the Congo metal could ​be going straight to the U.S. physical market. "And if it is, it will be a lot cheaper than the ‌COMEX-deliverable ⁠brands," he said.

The premium paid for COMEX copper over the LME price was $400 to $600 at times over the summer, Mackenzie noted. "So buying non-CME registered material on an LME basis might actually have been cheaper for end-users."

Two industry sources dealing with Congo copper confirmed the material is priced on an LME ​basis. The first source said ​his metal is typically ⁠sold at a discount of $550 to $800 a ton to cover freight costs.

The standard of Congo copper has improved significantly in recent years, leading to ​greater acceptance from U.S. consumers, the second source said, adding that buyers include ​copper rod ⁠mills and tube makers.

As large amounts have flowed to the United States, China's imports of copper from Congo fell by 4.3% in the first seven months of 2026, although Congo's market share over that time ⁠has ​increased by five percentage points to 44.7%.

In July alone, China's ​imports from Congo were at 95,778 tons for a market share of 39.4%, the lowest since October last year, although Congo ​remained easily the top supplier.
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- Reuters