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China copper cathode output dips 2.25% in Feb

iconMar 8, 2019 10:26
Source:SMM
For Mar, SMM forecasts output to increase by 5.93% on the month

SHANGHAI, Mar 8 (SMM) – China produced 719,600 mt of copper cathode last month, down 2.25% from January, due to fewer days of production in February. 

Environmental curbs lowered output at Yuguang Gold & Lead, while other smelters maintained regular operation.

On a yearly basis, copper cathode output in February grew 2.19%. Robust prices of sulphuric acid offset some pressure from lower spot concentrate treatment charges (TCs) on domestic copper smelters. Post-CNY recovery of downstream demand slowed from previous years, and this grew in-plant stocks of copper cathode at most smelters, SMM learned. 

While a rebound in prices of refined copper widened its spread with scrap prices after CNY, secondary smelters did not raise consumption of copper scrap, given the current stable supply of scrap materials and environmental factors. 

For March, SMM forecasts China's output of copper cathode to increase by 5.93% on the month, and by 6.85% on the year to 762,300 mt. March maintenance at Jinchuan’s Fangchenggang plant in Guangxi will have limited impact on output. 

Production in the first three months of 2019 will rise 4.7% on the year, to 2.22 million mt. 

 

Production data
Copper

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