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"As recently as a few weeks ago, traders were still redirecting cargoes to the United States in a rush to get copper into the country before the tariffs.Low copper prices will prevent new mines being developed. This will only exacerbate the copper shortage in the next few years.
Trump's unexpected pivot now raises the question of whether some of that stockpile might be re-exported. Macquarie estimated earlier this month it would take nine months of normal consumption just to run down the inventories built up in the first half of the year."