Chinese copper cathode prices up
2024-03-15 09:51:03 [Print]
BEIJING (Asian Metal) 15 Mar 24 - Given tightening copper concentrate and rising movements in the recent days, the mainstream Chinese copper cathode prices increased to the present RMB71,800-72,100/t (USD9,972-10,013/t) delivered, an increase of RMB2,000/t (USD277/t) from this Wednesday. Most downstream buyers purchased the metal as scheduled and Chinese copper cathode moved steadily. Insiders are of the opinion that the mainstream Chinese copper cathode prices would increase further in the coming days given potential output reduction among suppliers.
"As more plants plan to reduce or stop their production caused by tightening copper concentrate, the mainstream prices for copper cathode went up and I increased my offer to the present RMB72,000/t (USD10,000/t) delivered accordingly," said a copper cathode producer in North China, adding that he sold 300t at RMB72,000/t (USD10,000/t). Additionally, he sold about 200t of the metal at RMB69,900/t (USD9,708/t) this Wednesday. In view of rising movements and tightening supply for copper cathode, he predicts that the mainstream Chinese copper cathode prices would go up further by RMB500/t (USD69/t) in the coming days.
The producer, with an annual production capacity of 150,000t, predicts to produce about 12,000t of copper cathode in March and produced a similar volume last month. He holds no stock now, while about 500t late last month. He produced about 142,000t in 2023 and predicts to produce about 36,000t in Q1 of 2024.
"I sold 60t of copper cathode today at RMB71,800/t (USD9,972/t) delivered and refused to accept more orders at this level with an expectation of further price increase," said a copper cathode producer in North China, adding that he last sold about 50t of the material this Wednesday at RMB70,000/t (USD9,722/t). Considering potential output reduction among his peers caused by tightening copper concentrate and smooth transactions, he anticipates that the mainstream Chinese copper cathode prices would go up around RMB300/t (USD41/t) in the forthcoming days.
With an annual production capacity of 12,000t, the producer predicts to produce about 1,000t of copper cathode in March and produced about 1,000t of the metal in February. He holds no stock now, while about 300t late last month. He produced about 3,000t of the metal in Q4 of 2023 and predicts to produce about 3,000t in Q1 of 2024.
"As more plants plan to reduce or stop their production caused by tightening copper concentrate, the mainstream prices for copper cathode went up and I increased my offer to the present RMB72,000/t (USD10,000/t) delivered accordingly," said a copper cathode producer in North China, adding that he sold 300t at RMB72,000/t (USD10,000/t). Additionally, he sold about 200t of the metal at RMB69,900/t (USD9,708/t) this Wednesday. In view of rising movements and tightening supply for copper cathode, he predicts that the mainstream Chinese copper cathode prices would go up further by RMB500/t (USD69/t) in the coming days.
The producer, with an annual production capacity of 150,000t, predicts to produce about 12,000t of copper cathode in March and produced a similar volume last month. He holds no stock now, while about 500t late last month. He produced about 142,000t in 2023 and predicts to produce about 36,000t in Q1 of 2024.
"I sold 60t of copper cathode today at RMB71,800/t (USD9,972/t) delivered and refused to accept more orders at this level with an expectation of further price increase," said a copper cathode producer in North China, adding that he last sold about 50t of the material this Wednesday at RMB70,000/t (USD9,722/t). Considering potential output reduction among his peers caused by tightening copper concentrate and smooth transactions, he anticipates that the mainstream Chinese copper cathode prices would go up around RMB300/t (USD41/t) in the forthcoming days.
With an annual production capacity of 12,000t, the producer predicts to produce about 1,000t of copper cathode in March and produced about 1,000t of the metal in February. He holds no stock now, while about 300t late last month. He produced about 3,000t of the metal in Q4 of 2023 and predicts to produce about 3,000t in Q1 of 2024.
