Chinese copper cathode prices decrease slightly
2023-04-26 08:19:30 [Print]
BEIJING (Asian Metal) 26 Apr 23 - The prevailing Chinese copper cathode prices decreased to the present RMB68,200-68,400/t (USD9,956-9,985/t) delivered, down by RMB300/t (USD43/t) from this Monday. As downstream buyers from copper rod began to purchase the material for coming May Day Holiday, Chinese copper cathode market witnessed stable transactions. Insiders are of the opinion that the mainstream Chinese copper cathode prices would level off in the next two days given rising deals.
"I sold about 100t of copper cathode today at RMB68,200/t (USD9,956/t) delivered and rejected to sell more at this level," said a copper cathode producer in North China, noting that he last sold about 100t this Monday at RMB68,400/t (USD9,985/t). He noted that more buyers from downstream copper rod began to purchase the material for coming May Day holiday, so market movements increased. He predicts the mainstream prices for copper cathode would level off in the forthcoming days.
With an annual production capacity of 150,000t, the producer predicts to produce about 10,000t of the metal in April and produced a similar volume in March. He holds no stock now, unchanged from late last month. He produced about 120,000t of the metal in 2022 and around 30,000t in Q1 of 2023.
"I purchased about 200t of copper cathode today at RMB68,200/t (USD9,956/t) delivered," said a copper cathode consumer in North China, noting that he locked about 200t of the material this Monday at RMB68,400/t (USD9,985/t). He forecasts the mainstream copper cathode prices would go stable in the following days supported rising deals.
The consumer, with an annual consumption volume of 160,000t, predicts to use about 12,000t of copper cathode in April and produced a stable volume in March. He has no inventory presently, almost identical to late last month. He consumed about 145,000t of the material in 2022 and used about 37,000t in Q1 of 2023.
"I sold about 100t of copper cathode today at RMB68,200/t (USD9,956/t) delivered and rejected to sell more at this level," said a copper cathode producer in North China, noting that he last sold about 100t this Monday at RMB68,400/t (USD9,985/t). He noted that more buyers from downstream copper rod began to purchase the material for coming May Day holiday, so market movements increased. He predicts the mainstream prices for copper cathode would level off in the forthcoming days.
With an annual production capacity of 150,000t, the producer predicts to produce about 10,000t of the metal in April and produced a similar volume in March. He holds no stock now, unchanged from late last month. He produced about 120,000t of the metal in 2022 and around 30,000t in Q1 of 2023.
"I purchased about 200t of copper cathode today at RMB68,200/t (USD9,956/t) delivered," said a copper cathode consumer in North China, noting that he locked about 200t of the material this Monday at RMB68,400/t (USD9,985/t). He forecasts the mainstream copper cathode prices would go stable in the following days supported rising deals.
The consumer, with an annual consumption volume of 160,000t, predicts to use about 12,000t of copper cathode in April and produced a stable volume in March. He has no inventory presently, almost identical to late last month. He consumed about 145,000t of the material in 2022 and used about 37,000t in Q1 of 2023.
