China may turn into a net exporter of refined copper

Jin Shuguang, deputy general manager of China Minmetals Nonferrous Metals Holdings Co., Ltd., said that China may become a net exporter of refined copper in the next one to two years.

This shows that China's interest in purchasing refined copper from the global market may decline, although it still needs to import copper concentrates.

In the gap of an industry conference in Hong Kong, Jin Shuguang stated: "We may see that within one to two years, China has become a net exporter."

Jin Shuguang also said that China's refined copper production capacity is currently sufficient to meet domestic demand, and it should be able to sell copper to the global market in the future.

China is the world's largest consumer of refined copper. Jin Shuguang said that this year's imports depend on financing needs.

In view of the tightening of the credit market, the import of bulk commodities such as copper is often resold on the domestic market in order to raise funds for other high-yield investments in China.