Chinese copper cathode market sees increase of prices
2024-04-01 10:55:12 [Print]
BEIJING (Asian Metal) 1 Apr 24 - Dragged by the news of production reduction from CSPT, prices for copper cathode in the futures market increase slightly, but most Chinese producers still wait on the sidelines without specific plans to cut production. Mainstream prices for copper cathode in the Chinese spot market stand at RMB72,050-72,250/t (USD9,969-9,997/t) today, up by RMB100/t (USD13.84/t) or so from yesterday.
A producer in Shandong said, "We sold 200t of copper cathode at RMB72,230/t (USD9,995/t) today with a discount of RMB250/t (USD34.59/t), but our price for about 150t of the material yesterday was RMB72,160/t with a discount of RMB230/t (USD31.83/t). Now we have no plan to reduce production and could keep production of copper cathode for about three months by copper concentrate purchased before. Downstream consumers keep stable consumption of copper cathode at the moment." The producer, who keeps copper cathode production based on orders now with almost no stocks in hand, further noted that April is the busy season for the consumption of copper cathode, but they are still cautious about whether copper prices would go up.
With an annual production capacity of about 240,000, the producer expects to produce 18,000t of the material this month, the same as January. Their average stocks of this week are around 500t.
"We have no specific plan for production reduction and will decide whether to cut production based on actual market situation. Our premium copper is popular in the market. We sold 200t of copper cathode at RMB72,300/t (USD10,004/t) or so today with a discount of RMB140/t (USD19.37/t), while our price for 150t of the material was about RMB72,250/t (USD9,997/t) yesterday with a discount of RMB160/t (USD22.14/t)," a Jiangxi-based producer disclosed, adding that they are optimistic about economy this year, but are cautious about whether copper prices would increase as there are still possibilities for social stocks to increase at present.
With an annual production capacity of about 1,020,000, the producer expects to have an output of 85,000t this month, unchanged from January.
A producer in Shandong said, "We sold 200t of copper cathode at RMB72,230/t (USD9,995/t) today with a discount of RMB250/t (USD34.59/t), but our price for about 150t of the material yesterday was RMB72,160/t with a discount of RMB230/t (USD31.83/t). Now we have no plan to reduce production and could keep production of copper cathode for about three months by copper concentrate purchased before. Downstream consumers keep stable consumption of copper cathode at the moment." The producer, who keeps copper cathode production based on orders now with almost no stocks in hand, further noted that April is the busy season for the consumption of copper cathode, but they are still cautious about whether copper prices would go up.
With an annual production capacity of about 240,000, the producer expects to produce 18,000t of the material this month, the same as January. Their average stocks of this week are around 500t.
"We have no specific plan for production reduction and will decide whether to cut production based on actual market situation. Our premium copper is popular in the market. We sold 200t of copper cathode at RMB72,300/t (USD10,004/t) or so today with a discount of RMB140/t (USD19.37/t), while our price for 150t of the material was about RMB72,250/t (USD9,997/t) yesterday with a discount of RMB160/t (USD22.14/t)," a Jiangxi-based producer disclosed, adding that they are optimistic about economy this year, but are cautious about whether copper prices would increase as there are still possibilities for social stocks to increase at present.
With an annual production capacity of about 1,020,000, the producer expects to have an output of 85,000t this month, unchanged from January.
