China's Record Copper Ore Imports Offer Relief Amid Shortage
Chinese copper concentrate imports climbed to nearly 3 million tons last month, a record that's likely to ease price pressures in the domestic market and offer relief to smelters fighting over the availability of feedstock.
Spot treatment charges at global smelters are deeply in the red, an unprecedented collapse caused by a rapid expansion in capacity colliding with a global shortage of ore. The heaviest concentration of plants is in China, where output of refined copper has hit all-time highs despite pledges to rein in production to rescue margins.
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