China Cu Output Data Analysis in October

SHANGHAI, Nov. 28 (SMM) –

Copper Concentrate
According the National Bureau of Statistics (NBS), China's copper concentrate output was 112,000 mt in October and still within the 110,000-120,000 mt range for the fourth consecutive month. China's copper concentrate output should remain stable if no new large copper mines are put into production.

Copper Semis
According to the NBS, China's output of copper semis in October was 986,000 mt, down sharply by 5% from the 1.04 million mt output in September. As previously reported by SMM in earlier reports, copper semis producers generally chose to conduct maintenance during the Chinese National Day holiday period to minimize financial risks and was the major factor behind the drop in copper semis output.

Operating rates at copper semis have been low since early November due to increasing capital availability problems. Low copper prices have also affected orders for copper semis, so China's output of copper semis will not likely increase in November.