Chinese govt should restrict copper smelters’ ‘blind expansion’- Chalco GM

Chinese copper smelters have been expanding blindly over the past decade, leading to extreme competition for overseas copper concentrate and placing the industry in a fragile position with regards to procurement, an Aluminum Corp of China (Chalco) official has said.

Yu Dehui, general manager of Chalco, said he would formally raise his proposal for the government to rein in copper smelter expansion plans at the annual sittings of the National People’s Congress of the People’s Republic of China and the Chinese People’s Political Consultative Conference, also known as the “twin sessions” which started on Friday May 22, Shanghai media ThePaper reported.

In 2019, China’s copper capacity reached 12.59 million tonnes per year, yet the utilization rate was only 77%, according to Yu. It is a three-fold increase...

Published

Julian Luk

May 22, 2020

13:14 GMT

London