China’s copper supplies set to run out as US tariffs bite, says Mercuria

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Financial Times 1d ago

China’s copper supplies set to run out as US tariffs bite, says Mercuria - Financial Times

Quick Summary:

This so-called spread has created a lucrative arbitrage opportunity for traders willing to buy copper futures contracts in London and sell contracts in New York.

Andrew Cole, a metals analyst at Fastmarkets, said he expected “a significant plunge in scrap shipments from the US to China in March to May at the very least.“That’s what will lead to the escalation of supply squeeze in China we have been expecting to develop as the year progresses,” he said.

Kostas Bintas, the company’s head of metals and mining, said the US was for the “first time” competing with China for supplies of copper, which was likely to supercharge prices.