Chinese power giants increase purchases of substitutes for power grids, likely pushing down copper prices

(Bloomberg) -- In recent months, as copper prices soared to record levels before falling again, the metals industry has focused on China's state-owned power company China National Grid's purchasing policies.

The company, which is the largest single buyer of copper, has been reducing its purchases of copper wire since the beginning of this year, while at the same time increasing its purchases of aluminum wire, a cheaper alternative. Whil...
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