Chinese copper rod market sees limited deals
2024-04-11 12:04:39 [Print]
BEIJING (Asian Metal) 11 Apr 24 - Boosted by high prices on the futures market, copper rod prices go up accordingly, but demand from downstream consumers is limited and the Chinese copper rod market sees inactive deals on the whole. Mainstream prices for Chinese copper rod stand at RMB76,300-76,500/t (USD10,545-10,572/t) today, rising by RMB100/t (USD13.82/t) from yesterday.
"We made limited sales in recent two days, only about 40% of the average daily sales of last month. Today we sold 200t at RMB76,500/t (USD10,572/t) and yesterday sold the same volume at RMB76,300/t (USD10,545/t). Our current TC for oxygen-free copper rod is around RMB500/t (USD69.10/t), compared with RMB600/t (USD82.92/t) last year," a Tianjin-based producer said.
With an annual production capacity of 320,000t, the producer had an output of 10,000t in March and expects to produce about 9,500t in April.
A Jiangsu-based producer said, "The day before yesterday prices on the futures market moved up notably, so downstream clients became active in making replenishments and we sold 1,000t of oxygen-free copper rod. But today we sold only 500t at around RMB76,500/t (USD10,572/t) and yesterday sold the same volume at around RMB75,800/t (USD10,475/t)." He added that they produce only oxygen-free copper rod, TCs of which are about RMB550/t (USD76.01/t).
With an annual production capacity of 520,000t, the producer had an output of 15,000t in March and expects to produce about 15,000t in April, holding no stocks now.
"We made limited sales in recent two days, only about 40% of the average daily sales of last month. Today we sold 200t at RMB76,500/t (USD10,572/t) and yesterday sold the same volume at RMB76,300/t (USD10,545/t). Our current TC for oxygen-free copper rod is around RMB500/t (USD69.10/t), compared with RMB600/t (USD82.92/t) last year," a Tianjin-based producer said.
With an annual production capacity of 320,000t, the producer had an output of 10,000t in March and expects to produce about 9,500t in April.
A Jiangsu-based producer said, "The day before yesterday prices on the futures market moved up notably, so downstream clients became active in making replenishments and we sold 1,000t of oxygen-free copper rod. But today we sold only 500t at around RMB76,500/t (USD10,572/t) and yesterday sold the same volume at around RMB75,800/t (USD10,475/t)." He added that they produce only oxygen-free copper rod, TCs of which are about RMB550/t (USD76.01/t).
With an annual production capacity of 520,000t, the producer had an output of 15,000t in March and expects to produce about 15,000t in April, holding no stocks now.
