Commodities
China’s Copper Smelters Rue Beijing’s Curbs on US Raw Materials
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Beijing’s response to punitive US tariffs could create yet another headache for Chinese copper smelters, already grappling with a shortage of raw materials and plummeting profits.
China’s swift retaliation in matching Washington’s blanket 34% levies is likely to bring US shipments of copper scrap to a halt from next month. The country last year accounted for about one-fifth of China’s overseas purchases, which have been used as a replacement feedstock for the copper ore that’s in short supply.