NewsFlash / Copper / China Electrolytic Copper Production Reduction Expectations Dwindle as Output Remains Robust
China Electrolytic Copper Production Reduction Expectations Dwindle as Output Remains Robust
iconSep 18, 2024 20:46
Source:SMM
[SMM Analysis: Expectations of Reduced Electrolytic Copper Production Fade from Market View] Since April 2024, members of the CSPT (China Smelter Purchase Team) have repeatedly called for joint production cuts to mitigate the impact of low processing fees caused by the supply shortage of copper concentrates. However, according to data from SMM's research up to now, the anticipated reduction in China's electrolytic copper production has not materialized, and even expectations of such a reduction have gradually faded from the market's view. In August, SMM reported that China's electrolytic copper production was 1.0135 million tonnes, a decrease of 14,700 tonnes or 1.43% month-on-month but an increase of 2.48% year-on-year. This figure was also 10,100 tonnes higher than the expected 1.0034 million tonnes. Cumulative production from January to August reached 7.96 million tonnes, an increase of 485,900 tonnes or 6.5% year-on-year.
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

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