SHANGHAI, Mar 9 (SMM) - Entering March, despite the maintenance plans of three smelters, the actual output in March will not fall as they have restocked sufficient raw materials. Meanwhile, the output of newly commissioned smelters in central China will further increase in March. The sufficient supply of blister copper and copper scrap provides support for the production and the unfavourable news about overseas mines are unlikely to affect the domestic smelters in light of sufficient copper concentrate stocks. Due to statistical cycle of some smelters, fewer working days in February may affect the output. But most smelters calculate output based on natural month, hence the output will increase accordingly.
To sum up, SMM expects that China’s copper cathode output will stand at 949,500 mt in March, up 41,700 mt or 4.59% MoM and 11.9% YoY based on the current production schedules. The output is estimated at 2.71 million mt in January-March, up 8.32% or 208,300 mt year-on-year.