China copper smelters bracing for shortage of vital scrap metal
Around 30% of China’s refined copper production used scrap metal as a feedstock in 2023.
With metals and commodities on a long-term bull-market run, investors have recently turned their attention to copper. The red metal’s price recently has fallen due to mixed economic data. Copper’s use as an industrial metal — it’s widely used in buildings, electronics, appliances and automobiles — makes it sensitive to economic growth prospects.
