The metal has been propelled higher in 2025 by a weak dollar and, in recent months, a series of mining mishaps, but there is still a question mark over demand.
However, copper concentrate imports dropped 6.3% as mine disruptions, most recently at Grasberg in Indonesia, hampered supply of the smelting feedstock.
Financial Times reported that the DLA intends to buy up to $500 million of cobalt, $245 million of antimony, $100 million of tantalum and $45 million of scandium.