China Cu Output Data Analysis

SHANGHAI, Aug. 16 (SMM) – 

Copper Concentrate
According to China’s National Bureau of Statistics (NBS), China’s output of copper concentrate in July was 104 kt, slightly down from 111 kt in June.   China’s average monthly output was around 100 kt during the first seven months of 2010, a sign of stable production.  Without significant policy adjustments or volatile copper price movements, SMM believes China’s copper concentrate output will remain stable for the remainder of 2010.

Copper Semis
According to NBS, China’s copper semis output was 924 kt in July, down 85 kt, or 8.40%, from June, and in line with SMM predictions.  Orders received by domestic copper smelters were down due to the seasonal low demand period, which also negatively affected production at copper semis producers.  SMM believes these conditions will continue through August, and that China’s copper semis production will remain low. 

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