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China’s booming copper output leaves less space for Codelco
Codelco, the world’s biggest copper producer, is shipping less of the metal to China after a burst of new domestic capacity in the Asian nation, according to the Chilean company’s chairman Maximo Pacheco. China will remain a “very strategic market” for the state-owned Chilean producer, Pacheco said. But he added that its sales volumes of cathode — or refined copper — are under pressure as China’s own output of the metal grows at a double-digit percentage.“We see clearly that the sales of cathodes in China is decreasing because of the expansion of smelting capacity in China” and elsewhere in Asia, ... (full story)