SHANGHAI, Aug. 18 (SMM) - China’s copper concentrate production slipped 5% year-on-year January-July to 974,800 tonnes, as a number of copper mines halted or curtailed production.
More copper mines in China resorted to closure or curtailment amid depressed copper price, particularly smaller private mines, SMM understood.
Apart from slumping copper price, the stricter environmental protection requirements and growing financial pressure were also behind the massive stoppages at Chinese mines, SMM research team believes.
Furthermore, declining copper ore grade and increased mining difficulty have given a lift to mining costs, discourage mining companies.
Although supply of Chinese concentrate will fall on lower output, weak demand means the price for copper concentrate is unlikely to increase.
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