Changzhou Yuanmei New Material to decrease output for copper rod
2023-04-13 08:09:23 [Print]
BEIJING (Asian Metal) 13 Apr 23 - Changzhou Yuanmei New Material Co. intends to reduce their output to 9,000t in April, while about 12,000t in March.
"Discouraged by slow demand from downstream cable plants, Chinese copper rod market moved slowly and the consumption volume for rod also reduced. Given this situation, we plan to move down the output of copper rod to 9,000t in April," said a source from Yuanmei, noting they produced about 12,000t in March.
With an annual production capacity of 225,000t, the producer predicts to move down his output to 9,000t in April and produced about 12,000t in March. He holds about 1,500t of stocks now, while about 1,200t late last month. He produced about 135,000t of the metal in 2022 and around 33,000t in Q1 of 2023.
Restricted by slow demand from downstream cable plants, Chinese copper rod market witnessed very few deals. The mainstream TCs for copper rod hovered at the range of RMB550-650/t (USD79-94/t) delivered, down by RMB10/t (USD1/t) from late last week. Insiders forecast the mainstream TCs for copper rod would stay soft in the coming days due to weakening demand.
"Discouraged by slow demand from downstream cable plants, Chinese copper rod market moved slowly and the consumption volume for rod also reduced. Given this situation, we plan to move down the output of copper rod to 9,000t in April," said a source from Yuanmei, noting they produced about 12,000t in March.
With an annual production capacity of 225,000t, the producer predicts to move down his output to 9,000t in April and produced about 12,000t in March. He holds about 1,500t of stocks now, while about 1,200t late last month. He produced about 135,000t of the metal in 2022 and around 33,000t in Q1 of 2023.
Restricted by slow demand from downstream cable plants, Chinese copper rod market witnessed very few deals. The mainstream TCs for copper rod hovered at the range of RMB550-650/t (USD79-94/t) delivered, down by RMB10/t (USD1/t) from late last week. Insiders forecast the mainstream TCs for copper rod would stay soft in the coming days due to weakening demand.
