Commodities
China’s Copper Industry Is Struggling When It Should Be Booming
- Large portion of demand is tied to the construction industry
- Sector records worst drop in profitability in over a decade
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Copper demand in the world’s biggest user of the metal is slowing down at a time of the year when it usually picks up.
The copper market, traditionally a bellwether of economic health, is finding some support from the energy transition and Beijing’s efforts to revitalize growth. But buyers lack conviction and the view from the factory floor remains cautious as margins are suppressed and profits wither.