China Set to Begin Exporting More Copper

by Jeff Yoders on APRIL 7, 2016

China may soon send a shock to copper markets by selling its stockpiles of the red metal.

China Could Send Shock to Copper Markets

China may be about to shock the global copper market by unleashing some of its stockpiles of the metal, which are near record highs according to sources inside the secretive government warehouses, onto the global market.

Four traders of copper, including two from state-owned Chinese smelters, said they expect China to raise its copper exports — which are usually tiny — in the next few months. China’s refined copper exports averaged less than 10,000 metric tons a month in the first two months of 2016, and around 17,000 a month in 2015.

Market watchers are concerned that such a supply shock could stunt or even reverse recent price gains the red metal has made.

Source: MetalMiner