The China Nonferrous Metals Industry Association (CNIA) stated that due to tight raw material supply, the association has recommended copper smelting enterprises to reduce production and delay new projects. After the closure of the Cobre Panama copper mine, China is facing an unexpected tightness in copper concentrate supply. At the same time, Chinese smelters are seeking to expand production. Chen Xuesen, vice chairman of the China Nonferrous Metals Industry Association, said that producers should take proactive measures, such as early maintenance or extended maintenance time, reducing production, and delaying the start of new projects. At a meeting held last Friday, major Chinese copper smelters also proposed production cuts, but no specific plan was reached. China's refined copper production in 2023 reached a historical high of 12.99 million tons, with production expected to increase in 2024. Vice Chairman Chen Xuesen stated that, given the overcapacity in the smelting industry, producers should be extremely cautious in expanding production.