Chinese copper rod market sees limited buying activities
2023-03-08 08:11:14 [Print]
BEIJING (Asian Metal) 8 Mar 23 - Discouraged by slow demand from downstream cable plants, Chinese copper rod market witnessed rare deals over the past several days. The prevailing TCs for copper rod stood at the range of RMB600-650/t (USD86-94/t), almost identical to late last week. Insiders are of the opinion that the mainstream TCs for copper rod would stay flat in the forthcoming days and buyers prefer to purchase the material in minimum volume.
"I just sold about 100t of copper rod today with the TCs for RMB610/t (USD89/t) delivered, while I used to sell about 150t a day at least before early March," said a copper rod producer in South China, adding that he last sold about 100t this Monday with the TCs for RMB610/t (USD89/t) delivered. Taking slow movements into consideration, his stocks increased to the present 500t and even thinks his volume would move down to 10,000t in March. He predicts the mainstream TCs for copper rod would remain weakly stable and some of suppliers would consider accepting small price cuts to promote sales in the coming days.
The producer, with an annual production capacity of 225,000t, predicts to produce about 10,000t of copper rod in March and produced about 12,000t in February. He holds about 500t of stocks now, while no stock late last month. He produced about 150,000t of the metal in 2022 and predicts to produce about 32,000t of the metal in Q1 of 2023.
"I just sold about 60t of copper rod today with the TCs for RMB600/t (USD86/t) delivered and my clients rejected to purchase more," said a copper rod producer in North China, claiming that he sold about 62t this Monday with the TCs for RMB600/t (USD86/t). He noted that he visited four regular cable plants and all of them just operated for about 40% for lack of orders, so copper rod market moved slowly on the whole. Given slack movements from cable plants and rising intentions to compete for deals from copper rod plants, he predicts the mainstream TCs for copper would stay weakly stable and he prefers to accept RMB10/t (USD1.4/t) for price cuts to promote sales in the coming days.
With an annual production capacity of 340,000t, the producer predicts to produce about 6,500t in March and produced about 7,000t in February. He holds about 1,600t of stocks, an increase of 300t from late last month. He produced about 120,000t of the metal in 2022 and predicts to produce about 21,000t in Q1 of 2023.
"I just sold about 100t of copper rod today with the TCs for RMB610/t (USD89/t) delivered, while I used to sell about 150t a day at least before early March," said a copper rod producer in South China, adding that he last sold about 100t this Monday with the TCs for RMB610/t (USD89/t) delivered. Taking slow movements into consideration, his stocks increased to the present 500t and even thinks his volume would move down to 10,000t in March. He predicts the mainstream TCs for copper rod would remain weakly stable and some of suppliers would consider accepting small price cuts to promote sales in the coming days.
The producer, with an annual production capacity of 225,000t, predicts to produce about 10,000t of copper rod in March and produced about 12,000t in February. He holds about 500t of stocks now, while no stock late last month. He produced about 150,000t of the metal in 2022 and predicts to produce about 32,000t of the metal in Q1 of 2023.
"I just sold about 60t of copper rod today with the TCs for RMB600/t (USD86/t) delivered and my clients rejected to purchase more," said a copper rod producer in North China, claiming that he sold about 62t this Monday with the TCs for RMB600/t (USD86/t). He noted that he visited four regular cable plants and all of them just operated for about 40% for lack of orders, so copper rod market moved slowly on the whole. Given slack movements from cable plants and rising intentions to compete for deals from copper rod plants, he predicts the mainstream TCs for copper would stay weakly stable and he prefers to accept RMB10/t (USD1.4/t) for price cuts to promote sales in the coming days.
With an annual production capacity of 340,000t, the producer predicts to produce about 6,500t in March and produced about 7,000t in February. He holds about 1,600t of stocks, an increase of 300t from late last month. He produced about 120,000t of the metal in 2022 and predicts to produce about 21,000t in Q1 of 2023.
