Posted 3/27/2024, 10:42:55 AM
China Stockpiles Vast Copper Reserves, Raising Supply Concerns
- Chinese stockpiles of copper have surged recently, sparking concerns over market manipulation and supply shortages
- Copper is critical for construction, manufacturing, and green technologies like EVs and solar panels
- Tight global copper supplies and growing demand suggest potential for supply deficits and much higher prices
- China dominates copper refining and consumes over half of global production as it pivots economy toward EVs and solar
- Growing Chinese stockpiles may allow it to influence prices and could threaten Western access to copper needed for energy transition