China Copper Smelters to Cut Concentrate Purchases in Green Push

(Bloomberg) -- China’s major copper smelters have vowed to reduce purchases of concentrate this year as the country seeks to curb its carbon emissions, according to a state-run research firm.

The 15 largest smelters have agreed to trim purchases by 1.26 million tons, equivalent to around 300,000 tons of the metal, a statement posted on Saturday by Beijing Antaike Information Development Co. showed. That’s down 8.8% from a year earlier. The companies are “responding actively” to help the government reach its carbon neutral goals, according to the statement.

China has vowed to act strongly on climate change and has pledged to reach net zero emissions by 2060. Copper smelters have recommended limiting new capacity and plan to use more scrap metal to help the nation achieve its green goals, Beijing Antaike Information said last month. Consuming more scrap would enable them to use less copper directly extracted from mines.

See also: China’s Next Green Energy Wave Needs State-Owned Coal Giants