Worker Strike at South African Ports might lead to Falling Copper Anode Shipments to China

SHANGHAI, Oct 11 (SMM) - On October 6, South Africa's port operator Transnet declared force majeure at its ports as its workers went on strike over a wage dispute. Transnet owned seven ports in South Africa while operating 16 wharfs. The strike at seven South African ports will lead to a certain decrease in local copper anode shipments to China, which will intensify the tight supply of copper anode in the domestic market. As a result, the domestic RCs for copper anode will face greater pressure. However, SMM believes that the strike will be short as neither of the two sides will benefit from it. If so, the practical impact of this event on domestic copper anode supply will be limited. SMM will keep a close eye on the following developments.