SHANGHAI, Jul. 10 (SMM) - China’s copper cathode production increased 1.08% on a yearly basis to 654,000 tonnes in June 2017, SMM data showed.
Total copper cathode output in the first half of 2017 was 3.833 million tonnes, a rise of 0.67% on a yearly basis.
But June’s output fell short of expectations. More-than-expected output was affected at Daye Nonferrous Metals Group by maintenance cycle. Meanwhile, some copper smelters’ output declined due to decreased blister copper supply.
Blister copper output produced with copper scrap decreased, affected by environmental protection and narrower price spread between copper cathode and copper scrap, SMM understands. Besides, demand for blister copper increased after maintenance at a large number of copper smelters in the first half of the year. That’s why blister copper was tight in the second quarter of the year. Processing fees of blister copper are now 1,400-1,600 yuan per tonne (price to factory).
China’s copper cathode output will fall 2.41% year-on-year to 648,000 tonnes in July, SMM predicts. Some smelters, including Zijin Copper, Jinchuan Group, Yunnan Copper Chifeng Non-ferrous Metals and Zhongtiaoshan Non-ferrous Metals Group conducted maintenance in July, and will affect copper production, SMM explains.
Total copper cathode output in the first seven months of the year will be 4.481 million tonnes, up 0.21% year-on-year.
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