Chinese copper cathode prices down
2023-03-17 07:49:30 [Print]
BEIJING (Asian Metal) 17 Mar 23 - Given slow demand from downstream copper rod market and rising intentions to compete for deals from copper cathode suppliers, Chinese copper cathode market saw few deals over the past several days. The prevailing Chinese copper cathode prices went down to the present RMB66,800-67,000/t (USD9,681-9,710/t) delivered, down by RMB2,000/t (USD2,898/t) from this Wednesday. Insiders anticipate the mainstream Chinese copper cathode prices would decrease further in the coming days restricted by weakening demand.
"The most competitive quotation for copper cathode we received decreased to the current RMB66,900/t (USD9,695/t) delivered without any concessions, and I purchased 100t steadily," said a copper cathode consumer in North China, noting that he last purchased 100t of the metal this Tuesday at RMB68,900/t (USD9,985/t) as scheduled. In view of gloomy economy and rising intentions to compete for deals from suppliers, he predicts the mainstream Chinese copper cathode prices would edge down by RMB500/t (USD72/t) in the forthcoming days.
With an annual consumption volume of 200,000t, the consumer predicts to purchase about 12,000t of the metal in March and purchased about 7,000t in February. He holds about 500t of stocks now, while about 800t late last month. He consumed about 135,000t of the metal in 2022 and predicts to consume about 26,000t in Q1 of 2023.
"My supplier lowered his offer for copper cathode to the present RMB66,800/t (USD9,681/t) delivered and rejected to accept more price cuts from us, but I rejected to purchase with an expectation of further price decline in the coming days," said a copper cathode consumer in North China, claiming that he last locked about 100t of the metal at RMB68,900/t (USD9,985/t) early this week and intends to purchase another 100t in the coming days. Taking weakening demand from buyers and rising intentions to promote sales from suppliers into consideration, he predicts the mainstream Chinese copper cathode prices would go down by RMB600/t (USD86/t) in the coming days.
The consumer, with an annual consumption volume of around 180,000t, predicts to consume about 11,000t of the metal in March and consumed about 8,000t of the metal in February. He holds around 600t of stocks presently, unchanged from late last month. He consumed around 120,000t of the metal in 2022 and predicts to consume about 23,000t of the metal in Q1 of 2023.
"The most competitive quotation for copper cathode we received decreased to the current RMB66,900/t (USD9,695/t) delivered without any concessions, and I purchased 100t steadily," said a copper cathode consumer in North China, noting that he last purchased 100t of the metal this Tuesday at RMB68,900/t (USD9,985/t) as scheduled. In view of gloomy economy and rising intentions to compete for deals from suppliers, he predicts the mainstream Chinese copper cathode prices would edge down by RMB500/t (USD72/t) in the forthcoming days.
With an annual consumption volume of 200,000t, the consumer predicts to purchase about 12,000t of the metal in March and purchased about 7,000t in February. He holds about 500t of stocks now, while about 800t late last month. He consumed about 135,000t of the metal in 2022 and predicts to consume about 26,000t in Q1 of 2023.
"My supplier lowered his offer for copper cathode to the present RMB66,800/t (USD9,681/t) delivered and rejected to accept more price cuts from us, but I rejected to purchase with an expectation of further price decline in the coming days," said a copper cathode consumer in North China, claiming that he last locked about 100t of the metal at RMB68,900/t (USD9,985/t) early this week and intends to purchase another 100t in the coming days. Taking weakening demand from buyers and rising intentions to promote sales from suppliers into consideration, he predicts the mainstream Chinese copper cathode prices would go down by RMB600/t (USD86/t) in the coming days.
The consumer, with an annual consumption volume of around 180,000t, predicts to consume about 11,000t of the metal in March and consumed about 8,000t of the metal in February. He holds around 600t of stocks presently, unchanged from late last month. He consumed around 120,000t of the metal in 2022 and predicts to consume about 23,000t of the metal in Q1 of 2023.
