Operating Rate at Low-Oxygen Copper Rod Producers Rebounds Slightly to 36.2% in June -Shanghai Metals Market

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Operating Rate at Low-Oxygen Copper Rod Producers Rebounds Slightly to 36.2% in June

SMM Insight 09:50:46AM Jul 04, 2012 Source:SMM

SHANGHAI, Jul. 4 (SMM) – SMM's latest survey found that the average operating rate at low-oxygen copper rod producers rebounded marginally to 36.2% in June, largely attributable to higher operating rates at smaller low-oxygen copper rod producers. Widening in the SHFE/LME copper price ratio boosted scrap copper imports as some cargo-holders stepped up sales volumes. This alleviated sourcing difficulties to some extent and helped smaller low-oxygen copper rod producers increase production. Meanwhile, sliding copper prices drove consumption. Most large and medium producers opted to produce oxygen-free copper rod from refined copper, however. As such, the average operating rate at the low-oxygen copper rod produces in the survey increased only marginally to 36.2% in June.
 

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#1 Refined Cu
Aug.26
46055.0
-245.0
(-0.53%)
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46040.0
-250.0
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46065.0
-245.0
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46070.0
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46010.0
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Operating Rate at Low-Oxygen Copper Rod Producers Rebounds Slightly to 36.2% in June

SMM Insight 09:50:46AM Jul 04, 2012 Source:SMM

SHANGHAI, Jul. 4 (SMM) – SMM's latest survey found that the average operating rate at low-oxygen copper rod producers rebounded marginally to 36.2% in June, largely attributable to higher operating rates at smaller low-oxygen copper rod producers. Widening in the SHFE/LME copper price ratio boosted scrap copper imports as some cargo-holders stepped up sales volumes. This alleviated sourcing difficulties to some extent and helped smaller low-oxygen copper rod producers increase production. Meanwhile, sliding copper prices drove consumption. Most large and medium producers opted to produce oxygen-free copper rod from refined copper, however. As such, the average operating rate at the low-oxygen copper rod produces in the survey increased only marginally to 36.2% in June.