China's near-record copper production defies global fears of a shortage due to higher prices unlocking more scrap metal.
China's near-record copper production defies global fears of a shortage, with higher prices unlocking more scrap metal for processing. Despite a supply squeeze and $49bn takeover battle, China's faltering economy struggles to absorb the excess, resulting in a mismatch between supply and demand. Prices have retreated to $10,300 a ton, still a 21% gain for the year.
May 27, 2024
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