China’s Copper Woes Dampen Spirits of Asia Traders

(Bloomberg) — Asia’s copper industry meets in Hong Kong next week to discuss a market that should be bursting with opportunities after China, the biggest consumer of the metal, called an end to the pandemic restrictions strangling its economy.

The government’s pledge to raise economic growth, and an increasingly outsized contribution to demand from its rapid build out of clean energy, have spurred optimism that China’s reopening will help offset weaker activity elsewhere in the world. But the reality on the ground is much gloomier as traders seek evidence of a kick-start to consumption that has so far proved elusive in the months since Beijing lifted its “zero-Covid” policy.