China building “copper empire” to counter Wall Street speculators
by Inside China Business [1-16-2026].
The "Trump Trade" is driving Wall Street brokers to drain copper from exchanges across the world, to earn high premiums in the United States.
Fifty percent US tariffs on refined copper products, but not on the raw, have created a boom in speculation in the metals markets in New York, while drawing down inventories available for manufacturers, construction, and infrastructure.
Even higher tariffs are likely later in the year, and investment banks are advising their HNW clients and positioning portfolios accordingly.
China enjoys strong relationships with the world's top copper producers, but their manufacturers are being squeezed. In response, China is building a "copper empire" in Shandong, which will serve as the country's primary smelting and supply chain hub.
Closing scene, Bamei, Sichuan.
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