Operating Rates Of Key Copper Rod Producers Using Copper Cathode Averaged 70.25% This Week

Published: Sep 8, 2023 18:01

Source: SMM

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The operating rates of key copper rod producers using copper cathode averaged 70.25% this week (September 1-7), an increase of 1.28 percentage points from a week ago.

Orders increased but remained lacklustre as new orders were limited. The high copper prices, combined with the big price spread between the SHFE front-month and SHFE next-month copper contracts weakened downstream buying interest. Slow downstream delivery-taking resulted in greater pressure on enterprises’ finished product inventory. Copper rod companies said that there was no sign of a rebound in consumption.

The average price spread between copper rod produced with copper cathode and with copper scrap stood at 1,099 yuan/mt on Thursday. The price advantage of copper rod produced with copper scrap impacted consumption of copper rod produced with copper cathode.

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