China, which accounts for over half of global refined copper production, has rapidly expanded smelting capacity in recent years, even as global copper ore supply growth slowed to a crawl. This imbalance has driven down processing fees and pushed some overseas competitors to suspend operations.

China’s copper output nears limit amid ore shortage and overcapacity crackdown

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chinas copper-output

China’s copper output nears limit amid ore shortage and overcapacity crackdown