China Copper Output Falls in August, Hurt by G20 Summit, SMM Reports

SHANGHAI, Sep. 9 (SMM) - China’s refined copper output was 645,000 tonnes in August, down 2.86% from July, and up 0.62% year-on-year, SMM’s latest survey finds.

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Output at Fuye Group, Zhangjiagang United Copper Co., Zili Copper Industry and Nanhai Copper fell because of environmental protection inspections for the G20 Summit in Hangzhou in early September, SMM understands.

Meanwhile, Baiyin Nonferrous Metals Group and Fangyuan Nonferrous Metals Group conducted maintenance, which also precipitated declines in their output.

The affected output will barely recover in September, SMM said. Hunchun Zijin Mining Co. and Henan Zhongyuan Gold Smelter will undertake maintenance in September, and this will reduce output by some 5,000 tonnes.

SMM expects domestic copper output to be about 662,000 tonnes in September based on copper smelters’ production plan.

Shandong Humon Smelting Co.’s 120,000 tonne per year build-out project, which came online in August, will yield output in September. Minmetals Copper (Hunan) Co.’s 100,000 tonne per year project, put into production in April, has reached nearly 90% in capacity utilization rate.

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Domestic copper output in the first nine months of this year is expected to reach 5.78 million tonnes, SMM predicts, with year-on-year growth rate down to 5.96%. Output in the first eight months of this year was 5.12 million tonnes, a rise of 6.08% year-on-year.

SMM revised China’s copper output in July from 668,000 tonnes to 664,000 tonnes.

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