Copper prices dragged down by supply glut concerns

As new smelters open, China and renewable demand seen weakening

20231101N China copper smelter

A copper smelter in Yantai, Shandong province. © Reuters

SHINICHI ARAKAWA, Nikkei staff writer

TOKYO -- Bearish sentiment is growing for copper as dozens of new smelters that had been planned to lift output in anticipation of robust demand now open after pandemic-induced delays at a time when demand does not seem it will be as robust as anticipated

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