Chinese Copper Smelters Switch to Scrap Amid Concentrate Shortages
Producers of refined copper in China have resorted to using scrap metal for their operations as the availability of copper concentrate feedstocks tightens. Because of limited concentrate availability, processing charges have dropped even more into negative territory. The change in the feedstock used underscores how changes in the global supply of copper concentrate have propelled refiners in China to change the structural underpinnings of their operations. This shift also signals possible changes to copper concentrate prices on global markets, which are already higher than they have ever been in recent times. Antaike, a Chinese government-backed research entity, reveals that 25.2%…