Economics
China’s Refined Copper Exports Double to Record on Surplus
- Weak local demand spurring overseas sales, inventory buildup
- That’s helping to drive a drop in global prices of the metal
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China’s refined copper exports surged to a record last month as weak demand in the world’s biggest metals buyer prompted smelters to turn to overseas markets.
Shipments more than doubled to 157,751 tons in June from May, well above the previous all-time high of 102,000 tons in 2012, according to customs data released on Sunday. The figures follow data last week that showed a jump in unwrought copper and copper products exports.