Copper Market's Biggest Whale Fuels Speculation of a Major Shift [Yahoo! Finance]
PRYSMIAN S.P.A. UNSP/ADR (PRYMY)
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Source: Yahoo! Finance
Most Read from Bloomberg BlackRock Says Gunman From Trump Rally Appeared in Firm's Ad Trump Shooting Changes Biden's Plan to Revive 2024 Campaign Trump Taps Vance as Running Mate, Picking Populist Protege Amazon Sold a Used Diaper. It Tanked a Mom-and-Pop Business Trump Classified Documents Case Dismissed by Florida Judge The world's single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year, while at the same time ramping up purchases of aluminum wire, a cheaper substitute. While arguably a natural response to soaring copper prices, the change has ignited a debate over whether there's something bigger going on — if one of the metals industry's most important but opaque buyers might be undergoing a shift in policy that could rock the global market. The possibility of large-scale substitution of copper in China's power networks would have a meaningful impact on global demand, and some traders are touting it as a reason to
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