SHANGHAI, Dec. 19 (SMM) –
According to the National Bureau of Statistics (NBS), China's copper concentrate output was 108,000 mt in November, up from 99,000 mt in October. China's copper concentrate output fell during October owing to the Chinese National Day holiday, but recovered to between 100,000-110,000 mt once normal production resumed.
According to the NBS, China's refined copper output was 448,000 mt in November, down 21,000 mt from October's 469,000 mt, in line with SMM's earlier prediction. SMM's survey confirmed that, as two major copper smelters scaled back production in November, refined copper output for the month slid. As Jiangxi Copper has now completed its maintenance operations, and as some smelters need to step up production before year's end to meet their production targets for the year, SMM anticipates that China's refined copper output will rally to between 450,000-470,000 mt in December.
According to the NBS, China's output of copper semis was 1.06 million mt in November, up 69,000 mt from October. SMM's survey revealed that operating rates at copper semis producers during November did not drop as expected, but rebounded slightly. This was because operating rates had dropped in October as most copper semis producers opted to partially or completely halt production during the Chinese National Day holiday period. Nevertheless, as demand for copper semis has not increased, China's copper semis output is likely to fall in December.