SHANGHAI, Aug. 19 (SMM) – Utilization rate at major copper smelters in China grew 6.12 percentage points in July, but is unlikely to rise significantly in August, SMM research team holds.
SMM surveyed 22 Chinese copper smelters to find that their utilization rate climbed to 83.09% in July as smelters returned production from maintenance.
“Most large smelters in our survey sample maintained normal production, besides, Yanggu Xiangguang Copper and Yantai Guorun Copper resumed operation,” SMM analyst said.
Heading into August, Henan Zhongyuan Gold Smelting and Yantai Guorun Copper may step up production. However, Hangzhou Fuchunjiang Smelting and Yunnan Copper Chifeng are still in maintenance cycle, and Zijin Copper will start maintenance. Thus, SMM sees no sharp rise in overall utilization rate this month.
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