[SMM important News] Zambia Copper smelter chamibishi and konkola cut crude copper production forecast-Shanghai Metals Market

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[SMM important News] Zambia Copper smelter chamibishi and konkola cut crude copper production forecast

Translation 06:31:01PM Oct 25, 2018 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 25: as far as we know, Zambia's new tax policy requires local imports of copper concentrate to impose a tariff of 5%, which has caused a substantial increase in costs for local crude copper smelters. There are market rumors that China Color's chambishi was forced to cut crude copper production by about 50, 000 tons in 2019. In addition, vedanta's konkola smelter plans to halve its original crude production capacity of 310000 tons in 2019, but the authenticity of the current news is worth further confirmation. If the information is reliable, we believe that since most of the anode copper from chambishi will be shipped to China, which will undoubtedly put pressure on the supply of crude copper imported from China, this is simply adding to the problem when the import of seven categories of scrap copper is completely banned in 2019. It will aggravate the shortage of supply in China's crude copper market in the future. (we will continue to follow up on SMM grandson Yang)

Key Words:  TC  Mining  processing fee 

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#1 Refined Cu
Aug.20
46655.0
175.0
(0.38%)
Standard-Grade Copper
Aug.20
46645.0
180.0
(0.39%)
High-Grade Copper
Aug.20
46665.0
175.0
(0.38%)
Guixi copper
Aug.20
46675.0
180.0
(0.39%)
Low-quality copper
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46610.0
170.0
(0.37%)

[SMM important News] Zambia Copper smelter chamibishi and konkola cut crude copper production forecast

Translation 06:31:01PM Oct 25, 2018 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 25: as far as we know, Zambia's new tax policy requires local imports of copper concentrate to impose a tariff of 5%, which has caused a substantial increase in costs for local crude copper smelters. There are market rumors that China Color's chambishi was forced to cut crude copper production by about 50, 000 tons in 2019. In addition, vedanta's konkola smelter plans to halve its original crude production capacity of 310000 tons in 2019, but the authenticity of the current news is worth further confirmation. If the information is reliable, we believe that since most of the anode copper from chambishi will be shipped to China, which will undoubtedly put pressure on the supply of crude copper imported from China, this is simply adding to the problem when the import of seven categories of scrap copper is completely banned in 2019. It will aggravate the shortage of supply in China's crude copper market in the future. (we will continue to follow up on SMM grandson Yang)

Key Words:  TC  Mining  processing fee