Copper Set to Drop as China's Jiangxi Looks to Boost Output
- Jiangxi Copper plans to raise production to maximum capacity
- Higher U.S. interest rates among negatives for the metal: Li
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Copper is poised to drop this year as higher U.S. interest rates and elections in Europe curb demand, according to the chairman of China’s second-largest refiner of the metal.
Prices will end the year lower than where they started, Jiangxi Copper Co. Chairman Li Baomin said Sunday in an interview in Beijing as the government announced growth plans for 2017. Jiangxi Copper plans to increase production to the maximum capacity of 1.36 million metric tons, compared with about 1.2 million tons last year, he said.