Spot Blister Copper Market Lukewarm Ahead of CNY

SHANGHAI, Feb 15 (SMM) - Imported blister copper were quoted at $110-130/mt cif, an increase of $15/mt from December. RCs of blister copper in south China rose 150 yuan/mt to 650-1,050 yuan/mt, and those in north China stood at 900-1,000 yuan/mt, flat from December.

RCs varied across different categories and regions. Copper smelters in north China mostly use blister copper produced from copper ore, which ensures stable production and supply of blister copper. As such, they are less sensitive to the changes in RCs. In south China, most copper smelters use blister copper produced from scrap, and this leads to big volatility of production and raw material supply for blister copper, translating to great changes in RCs. In terms of imported blister copper, traders focused on the negotiation on long-term orders in December 2022, while domestic smelters started to restock. By the first week of 2023, sufficient stocks promoted the RCs of imported blister copper.