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China

Data indicate that China’s copper scrap imports totalled 557,162 tonnes in the first quarter of 2024 for a year-on-year increase of 15.8%. Following the recent rally in LME copper, additional domestic scrap consumption is being reported owing to an arbitrage deficit.

China Minmetals is working at its Yunshan mine with the target of shortening the process of spherical graphite production and increasing the density to improve the capacity and longevity of lithium-ion batteries.

As regards the new target set by China’s National Development and Reform Commission to achieve carbon emission reductions in the real estate sector, it is expected that more “green steel” will be used by the construction industry from 2027 in the push towards peak carbon emissions in 2030 and full carbon neutrality by 2060.

The Chinese government is planning to continue with support aimed at meeting its 5% economic growth target, with proactive fiscal policies and a prudent monetary approach designed to confront soft demand and stabilize the real estate sector.