Europe's copper giant is unfolding in the US: As Trump wanted

One of the largest producers of copper and non-ferrous metals from Europe has started production in the USA and plans to build additional capacities. German Aurubis decided to change its strategy after Donald Trump imposed import duties of 50%.

"With the launch of the new American Aurubis Richmond plant, the company will produce key strategic metals such as copper, nickel, tin and precious metals in Georgia. They are crucial for the future of the American economy and are necessary for the expansion of data centers and artificial intelligence models, as well as for energy infrastructure, high—tech products and the defense industry," Aurubis said.

Toralf Haag, CEO of the company, said that the commissioning of the Richmond plant marks an important milestone in the growth of Aurubis.

"We are pioneers and built the first smelter in the USA from scratch in more than a century. Our timely entry into the US market and our unique set of opportunities, combined with a favorable financing environment, are a solid foundation for further growth in one of the most attractive metals markets in the world," he added.

Aurubis noted that the company has already invested $ 800 million in the United States and will not stop there. Aurubis has changed its strategy and now the European giant is betting on the USA.

Annually, the United States consumes 1.8 million tons per year, of which half are imported. Demand is expected to grow by 30% in the next five years. In this situation, the United States imposed a 50 percent duty on copper from abroad, which was the impetus for the copper giant to open factories in the United States.

"The processing of multimetals can quickly fill the gap: as the first and most technologically advanced secondary smelting enterprise, Aurubis Richmond strengthens the independence of American supply chains by processing complex secondary materials," Aurubis said.

Now the most important task for the European giant is the construction of a new full-fledged metallurgical plant in the USA. It is expected that it can be launched within three to five years.

According to Reuters, German investments in the United States are an ongoing process of deindustrialization in Germany. It is expected that it will destroy all industrial production, for example, in Hamburg over the next 15 years.

Despite the fact that three years have passed since the peak of the energy crisis in Europe, energy prices, including gas, remain high and are twice as high as pre-crisis quotes. In this situation, European industry is losing competitiveness, and US duties only aggravate the situation.