China's Copper Ambitions: $28 Billion Investment to Dominate Global Market

A significant development in the global copper market is unfolding as China's Shandong province has announced plans to invest US$28 billion to transform itself into a leading copper-smelting hub. According to the South China Morning Post, the provincial government aims to enhance the resilience and security of the industrial supply chain for copper, a strategic metal essential for various industries.

By 2027, Shandong's copper industry is projected to exceed 200 billion yuan, with current industry size undisclosed. This move is driven by geopolitical tensions and an increasing demand for copper, positioning China, already the world's top importer and consumer, to strengthen its export market.

The investment plan is part of a broader ambition to lead in research and development for high-end copper materials, with existing major players like Yanggu Xiangguang Copper and CNMC Albetter Copper in the region.

This push could significantly impact global copper prices and supply chains, affecting the industries reliant on this critical metal.