Chinese copper cathode market sees scarce deals
2023-03-23 08:25:30 [Print]
BEIJING (Asian Metal) 23 Mar 23 - Restricted by continuous slow demand from downstream copper rod market, Chinese copper cathode market saw slack movements over the past several days. The prevailing Chinese copper cathode prices hovered at the current RMB67,800-68,000/t (USD9,826-9,855/t) delivered, an increase of RMB400/t (USD57/t) from this Tuesday. Insiders are of the opinion that the mainstream Chinese copper cathode prices would edge down in the coming days given limited buying activities in the coming days.
"I quoted RMB67,850/t (USD9,833/t) delivered for copper cathode, but failed to compete for any deals due to watchful attitudes from my clients," said a copper cathode producer in North China, adding that he last sold about 100t early this week at RMB67,400/t (USD9,768/t) and his stocks increased to the present 1,000t, while about 800t late last month. Taking slow demand from downstream copper rod market and rising intentions to promote sales from suppliers into consideration, he predicts the mainstream Chinese copper cathode prices would edge down in the forthcoming days.
With an annual production capacity of 120,000t, the producer predicts to produce about 10,000t of copper cathode in March and produced about 10,000t in February. He holds about 1,000t of stocks now, while about 800t late last month. He produced around 110,000t of the metal in 2022 and predicts to produce about 30,000t in Q1 of 2023.
"I quoted RMB67,800/t (USD9,826/t) delivered for copper cathode without any concessions, and only sold about 200t at this price level," said a copper cathode producer in North China, claiming that he last sold about 300t early this week at RMB67,400/t (USD9,826/t), while he used to sell about 500t to the client before early March. His stocks moved up to the present 2,600t, while about 2,200t late last month. Considering slow movements from buyers and increasing intentions to compete for deals from suppliers, he forecasts the mainstream Chinese copper cathode prices would move down by RMB500/t in the next two days.
The producer, with an annual production capacity of 400,000t, predicts to produce about 23,000t of the metal in March and produced a similar volume in February. He holds about 2,600t of stocks now, while around 2,200t late last month. He produced about 320,000t of the metal in 2022 and predicts to produce about 68,000t in Q1 of 2023.
"I quoted RMB67,850/t (USD9,833/t) delivered for copper cathode, but failed to compete for any deals due to watchful attitudes from my clients," said a copper cathode producer in North China, adding that he last sold about 100t early this week at RMB67,400/t (USD9,768/t) and his stocks increased to the present 1,000t, while about 800t late last month. Taking slow demand from downstream copper rod market and rising intentions to promote sales from suppliers into consideration, he predicts the mainstream Chinese copper cathode prices would edge down in the forthcoming days.
With an annual production capacity of 120,000t, the producer predicts to produce about 10,000t of copper cathode in March and produced about 10,000t in February. He holds about 1,000t of stocks now, while about 800t late last month. He produced around 110,000t of the metal in 2022 and predicts to produce about 30,000t in Q1 of 2023.
"I quoted RMB67,800/t (USD9,826/t) delivered for copper cathode without any concessions, and only sold about 200t at this price level," said a copper cathode producer in North China, claiming that he last sold about 300t early this week at RMB67,400/t (USD9,826/t), while he used to sell about 500t to the client before early March. His stocks moved up to the present 2,600t, while about 2,200t late last month. Considering slow movements from buyers and increasing intentions to compete for deals from suppliers, he forecasts the mainstream Chinese copper cathode prices would move down by RMB500/t in the next two days.
The producer, with an annual production capacity of 400,000t, predicts to produce about 23,000t of the metal in March and produced a similar volume in February. He holds about 2,600t of stocks now, while around 2,200t late last month. He produced about 320,000t of the metal in 2022 and predicts to produce about 68,000t in Q1 of 2023.
