Codelco is set to cut shipments of refined copper to China next year after extended outages at its smelters and strong demand elsewhere, according to a person familiar with the matter. The Chilean mining giant will reduce shipments to customers under annual contracts for 2023 by around 10%, in line with the decline in its refined metal production, said the person, who asked not to be named discussing commercially sensitive information. But while it historically has also sold a significant volume of metal in shorter-term deals, next year Codelco is likely to make fewer “spot” sales to China as copper usage proves ... (full story)