China Copper Exports to Jump in Rare Deliveries to LME Depots
- Smelters to sell overseas where prices are higher: sources
- Demand recovery has been weaker than expected so far
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China’s copper smelters are preparing to boost exports, a sign its manufacturing and construction sectors aren’t yet making a decisive recovery from the ravages of the past year.
The possibility of a powerful rebound in Asia’s biggest economy has fueled a number of bullish calls on the industrial metal since China exited strict Covid curbs late last year. But an imminent burst of exports from the world’s biggest copper market suggests appetite for the bellwether metal among domestic buyers is still shaky.