Chinese copper rod prices increase

BEIJING (Asian Metal) 19 Mar 24 - In view of rising copper cathode prices, the mainstream Chinese copper rod prices increased to the present RMB73,600-73,700/t (USD10,222-10,236/t) delivered, an increase of RMB500/t (USD69/t) from last Friday and up by RMB2,500/t (USD347/t) from middle of last week.Asian Metal Copyright The producer, with an annual production capacity of 220,000t, predicts to produce about 16,000t in March and produced about 10,000t in February.Asian Metal Copyright Most downstream cable plants purchased the material as scheduled; Chinese copper rod market saw stable transactions.Asian Metal Copyright "As upstream copper cathode price increased to the present RMB73,000t USD10,138t delivered, I increased my offer for copper rod to RMB73,600t USD10,222t and sold 300t at this level," said a copper rod producer in North China, adding that he last sold about 200t of the material at RMB73,100t USD10,152t last Friday with the TCs for RMB620t USD86t.Asian Metal Copyright Insiders are of the opinion that the mainstream Chinese copper rod prices would edge up further given rising copper cathode prices.

"As upstream copper cathode price increased to the present RMB73,000/t (USD10,138/t) delivered, I increased my offer for copper rod to RMB73,600/t (USD10,222/t) and sold 300t at this level," said a copper rod producer in North China, adding that he last sold about 200t of the material at RMB73,100/t (USD10,152/t) last Friday with the TCs for RMB620/t (USD86/t). In view of tightening copper cathode and steady transactions from downstream cable plants, he predicts that the mainstream Chinese copper rod prices would go up by another RMB500/t (USD69/t) in the coming days.

The producer, with an annual production capacity of 225,000t, predicts to produce around 20,000t of copper rod in March and produced about 11,000t in February. He holds about 800t of stocks now, unchanged from late last month.Asian Metal Copyright He anticipates that the mainstream Chinese copper rod prices would go up further in the coming days.Asian Metal Copyright He produced about 210,000t of the metal in 2023 and predicts to produce about 50,000t in Q1 of 2024.

"I sold around 400t of copper rod today at RMB73,700/t (USD10,236/t) delivered as upstream copper cathode price increased to the current RMB73,000/t (USD10,138/t)," said a copper rod producer in North China, adding that most downstream cable plants purchased the metal as scheduled and Chinese copper rod market moved steadily in the recent days. He last sold about 300t of the metal at RMB73,100/t (USD10,152/t) last Friday and about 200t at RMB71,100/t (USD9,875/t) with the TCs for RMB650/t (USD90/t).Asian Metal Copyright The producer, with an annual production capacity of 225,000t, predicts to produce around 20,000t of copper rod in March and produced about 11,000t in February.Asian Metal Copyright He anticipates that the mainstream Chinese copper rod prices would go up further in the coming days.

The producer, with an annual production capacity of 220,000t, predicts to produce about 16,000t in March and produced about 10,000t in February. He holds no stock now, unchanged from late last month.Asian Metal Copyright He holds no stock now, unchanged from late last month.Asian Metal Copyright He produced about 48,000t in Q4 of 2023 and predicts to produce around 42,000t in Q1 of 2024.

.Asian Metal Copyright "I sold around 400t of copper rod today at RMB73,700t USD10,236t delivered as upstream copper cathode price increased to the current RMB73,000t USD10,138t," said a copper rod producer in North China, adding that most downstream cable plants purchased the metal as scheduled and Chinese copper rod market moved steadily in the recent daysAsian Metal Copyright