Copper Mountain Mining Corporation T.CUM

China Wants a Made-in-China Copper Price

[Raypanda]

The timing for copper is right. China now accounts for more than half the world’s consumption, according to BMO Capital Markets, up from 39% in 2010 and 12% in 2000. The country’s appetite has only grown this year —  it took in more unwrought copper and has already increased its purchases of refined metal by more than 1 million metric tons compared with 2019. It’s indicative that when broker BANDS Financial Ltd. did a presentation on the new contract alongside the Shanghai Futures Exchange, it was viewed 15,000 times by the next morning.