Chinese copper cathode market sees slight decrease of prices
2024-03-27 11:19:38 [Print]
BEIJING (Asian Metal) 27 Mar 24 - The Chinese copper cathode spot market sees weakly balanced supply-demand on the whole today and consumers from downstream copper rod market only refill stocks based on orders against the backdrop of slight decrease of futures prices. Mainstream prices for copper cathode in the domestic spot market go down by RMB400/t (USD55.36/t) today to RMB71,700-71,900/t (USD9,924-9,952/t). Insiders expect that mainstream prices for the material would go up slightly in the following days.
A Zhejiang-based producer said, "We sell over 3,000t of copper cathode at about RMB71,800/t (USD9,937/t) today with a discount of less than RMB200/t (USD27.68/t), but yesterday our price for 2500t of the material was RMB72,100/t (USD9,978/t) or so with a discount of more than RMB200/t (USD27.68/t). We could receive five-six enquiries in the recent two days." According to the producer, prices for copper cathode in the current spot market generally have a discount of RMB200/t (USD27.68/t), but it's better to make deliveries directly in the futures market as the spot prices can't be adjusted anymore.
With an annual production capacity of 550,000t, the producer expects to produce about 45,000t in March, up by 2,000t from January. They hold around 4,000t of stocks today, rising by 3,200t from the end of January.
"We sold 600t of copper cathode at RMB71,800/t (USD9,937/t) with a discount of over RMB200/t (USD27.68/t) today, while our price for about 500t of the material was about RMB72,100/t (USD9,978/t) yesterday with a discount of RMB200/t (USD27.68/t). We didn't cut or halt production in the recent two days as we basically could keep stable sales," a producer from Jiangxi stated.
With an annual production capacity of 220,000t, the producer expects to have an output of about 18,000t in March, about 10,000t higher than January. They have stocks of 2,000t or so at the moment.
A Zhejiang-based producer said, "We sell over 3,000t of copper cathode at about RMB71,800/t (USD9,937/t) today with a discount of less than RMB200/t (USD27.68/t), but yesterday our price for 2500t of the material was RMB72,100/t (USD9,978/t) or so with a discount of more than RMB200/t (USD27.68/t). We could receive five-six enquiries in the recent two days." According to the producer, prices for copper cathode in the current spot market generally have a discount of RMB200/t (USD27.68/t), but it's better to make deliveries directly in the futures market as the spot prices can't be adjusted anymore.
With an annual production capacity of 550,000t, the producer expects to produce about 45,000t in March, up by 2,000t from January. They hold around 4,000t of stocks today, rising by 3,200t from the end of January.
"We sold 600t of copper cathode at RMB71,800/t (USD9,937/t) with a discount of over RMB200/t (USD27.68/t) today, while our price for about 500t of the material was about RMB72,100/t (USD9,978/t) yesterday with a discount of RMB200/t (USD27.68/t). We didn't cut or halt production in the recent two days as we basically could keep stable sales," a producer from Jiangxi stated.
With an annual production capacity of 220,000t, the producer expects to have an output of about 18,000t in March, about 10,000t higher than January. They have stocks of 2,000t or so at the moment.
