Jiangxi Copper to Cut Copper Capacity Further in H2 2016

SHANGHAI, Aug. 11 (SMM) – Jiangxi Copper will further cut copper capacity by 30,000 tonnes in the second half of 2016, Wu Yuneng said recently, Deputy General Manager of Jiangxi Copper.

“Jiangxi Copper already reduced copper capacity by 50,000 tonnes in H1 this year, a year-on-year drop of near 9%, the largest decline in peer industry. ”, Wu added. But SMM learnt that the company reduced copper capacity by 74,000 tonnes in H1.

Wu also expressed that Jiangxi Copper targets 80,000 tonnes capacity cut in 2016, exceeding 20% of total reduction in copper capacity in China. And the copper output cut may lead to domestic total copper production unchanged from last year.  

SMM expects copper production in China to grow at a pace of 4.1% or by 300,000 tonnes in 2016. 

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