China's Grip on Copper and Chile's Recovery

China's grip on the global copper supply is tightening as it expands its copper industry, with a record production expected this year. The country's smelting capacity expansion may lead to oversupply and impact global copper markets. Chilean copper mining is experiencing a spluttering recovery, with declining shipments and production setbacks. London copper prices rose due to a weaker US dollar and increased stimulus measures in China, but gains were limited by a slowdown in winter demand and rising inventories. Copper prices weakened due to supply glut concerns and the opening of new smelters.