China's $28 Billion Plan to Control the World's Copper

A major Chinese industrial province has launched an ambitious plan to dominate the global copper market. Shandong, in eastern China, aims to become a top world center for copper smelting with a project worth $28 billion. The provincial government released a detailed plan this week. Its goal is to rapidly expand the local copper industry over the next two years. This will strengthen China's supply chains for this critical metal. Copper is a strategic material essential for electronics, electric vehicles, and power grids. Its price is currently near record highs. Global demand is rising due to the clean energy transition and technological competition. The move positions Shandong to gain more control over copper processing. This could significantly influence international prices and availability. The plan is part of China's broader effort to secure key resources for its manufacturing and technology sectors.