SHANGHAI, Apr 9 (SMM)—An SMM survey showed that China produced 860,500 mt of copper cathode in March, rising 4.71% from February and 15.71% from a year ago, as some copper smelters recovered from maintenance and due to more operating days in the month.
Rising refining charges (RCs) for blister copper and fast-increasing sulphuric acid prices in east and south China prompted copper smelters to maintain high operating rates. In addition, as copper prices have steadied and consumption has improved amid a high season, finished product inventory pressure eased across smelters.
According to smelters’ production schedules, SMM expects China’s copper cathode output to shrink 1.63% on the month, but to rise 12.51% on the year to 846,500 mt in April. For the first four months of 2021, output is likely to total 3.33 million mt, up 14.54% from the same period last year.
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