Gree’s Dong Mingzhu says copper costs to cut profit by billions

Dong Mingzhu's willingness to absorb a multi-billion-yuan profit hit rather than substitute aluminum is a notable signal on input-cost pressure in China's appliance supply chain, and it frames the copper-aluminum spread as a quality trade-off rather than a pure cost decision. The stance affects Gree's margin outlook and, indirectly, copper demand from a major consumer. Whether other manufacturers match that commitment to copper or quietly shift toward aluminum is the open question, and it matters for how the metal's industrial demand holds up as prices stay elevated.