China Smelters to Export Copper to LME Warehouses, Reuters Says

Copper smelters and traders in China plan to export refined metal to warehouses monitored by the London Metal Exchange over the next two months, after stockpiles plunged, Reuters reported, citing a statement from Jiangxi Copper Co.

Smelters that have agreed to send metal to relieve a domestic surplus include members of China Smelters Purchase Team and Xiangguang Copper Co., according to the Jiangxi statement, Reuters said. That group comprises the top 10 producers in China and manufacture the bulk of the nation’s copper, Reuters said.