How much copper will the world’s largest copper importer export? That counterintuitive question is critical to the outlook for the metal.
It might seem a simple equation. Inventories in China, the world’s biggest copper consumer and importer, are at record levels, and prices on the London Metal Exchange are being pushed higher by a sharp drawdown in exchange stocks. The obvious conclusion is that China should export some of its surplus inventory.
Indeed, Jiangxi Copper, the country’s largest producer of copper, has announced a plan to make “large” exports “in the next few weeks”.
您已閱讀18%（584字），剩餘82%（2607字）包含更多重要資訊，訂閱以繼續探索完整內容，並享受更多專屬服務。