China’s pledge to reduce carbon emissions by the middle of the century will require large cuts in the production of metals, potentially adding further fuel to an already rapid rise in commodity prices as the world emerges from the coronavirus pandemic.
For a decade, China’s plentiful cheap, coal-fired power has enabled it to dominate the production and export of metals from copper to steel, helping to keep global prices low.
But tighter environmental rules on smelters, steel plants and mines are set to curb supply for a range of metals, adding to global inflationary pressures.
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