Codelco Plans to Reduce Cathode Imports to China

Reuters reported that Codelco has announced that they will reduce catode imports to China this year, who is instead focusing concentrate.

As quoted in the market report:

China is moving its import needs from refined metal to copper concentrate after domestic production surged to account for 73 percent of the nation’s primary usage, according to a Citigroup Inc. report dated March 4. Copper is used in electrical wiring and pipes. China’s priority will be to produce its own refined copper, Toro said.

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