SHANGHAI, Dec. 28 (SMM) - Nine Chinese major copper smelters, including Jiangxi Copper, Tongling Nonferrous Metals Group and Jinchuan Group, agreed to step up output cut above 350,000 mt next year if market conditions deteriorate, wenhua.com reports.
These copper smelters have agreed to slash output by at least 350,000 mt in 2016. If copper prices continue falling and spot TC/RCs of imported copper concentrate drop below their cost, they will cut output more significantly, according to a senior executive of one of the nine companies.
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