China’s Copper Buyers Slash Annual Contracts With Market in Flux

China’s Copper Buyers Slash Annual Contracts With Market in Flux

China’s copper importers are reining in the amount of tonnage they buy through annual supply negotiations, once a bellwether for the global metal market, and opting for spot supplies instead.

For 2025, buyers in China will take less refined metal under yearly contracts than they did this year, including from producers like Chilean copper giant Codelco, according to six traders with direct knowledge of talks on the sidelines of a major industry event in Shanghai.

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