Chinese copper cathode prices up
2024-04-16 09:47:24 [Print]
BEIJING (Asian Metal) 16 Apr 24 - Futures prices of copper cathode keep rising in the current delivery stage of SHFE, and prices for the material in the Chinese spot market rise accordingly. Mainstream prices for copper cathode in the domestic spot market stand at RMB76,100-76,300/t (USD10,514-10,542/t) today, up by RMB300/t (USD41.45/t) or so from last Friday. Insiders expect that copper cathode prices might keep increasing slightly in the following days.
A producer in Shandong said, "We didn't conclude any deal this morning, but sold about 30t of copper cathode at RMB76,250/t (USD10,535/t) delivered with a discount of RMB130/t (USD17.96/t) this afternoon. We also sold about 150t of the material at RMB75,870/t (USD10,482/t) delivered last Friday with a discount of RMB150/t (USD20.72/t) or so." The producer further disclosed that prices for copper cathode might keep rising in the future.
With an annual production capacity of 150,000t, the producer had an output of 3,000t last month, but expects that the output would decline to 2,000t or so this month owing to limited orders from downstream customers. They hold around 300t of stocks for the time being.
"We sold about 300t of copper cathode at about RMB76,220/t (USD10,531/t) EXW today, while our price for the same volume of the material was only about RMB76,000/t (USD10,500/t) last Friday. It's the delivery date of SHFE now and we hope that copper prices would go down," a Henan-based producer stated.
With an annual production capacity of 120,000t, the producer had an output of 7,000t in March, holding no stocks at the moment.
A producer in Shandong said, "We didn't conclude any deal this morning, but sold about 30t of copper cathode at RMB76,250/t (USD10,535/t) delivered with a discount of RMB130/t (USD17.96/t) this afternoon. We also sold about 150t of the material at RMB75,870/t (USD10,482/t) delivered last Friday with a discount of RMB150/t (USD20.72/t) or so." The producer further disclosed that prices for copper cathode might keep rising in the future.
With an annual production capacity of 150,000t, the producer had an output of 3,000t last month, but expects that the output would decline to 2,000t or so this month owing to limited orders from downstream customers. They hold around 300t of stocks for the time being.
"We sold about 300t of copper cathode at about RMB76,220/t (USD10,531/t) EXW today, while our price for the same volume of the material was only about RMB76,000/t (USD10,500/t) last Friday. It's the delivery date of SHFE now and we hope that copper prices would go down," a Henan-based producer stated.
With an annual production capacity of 120,000t, the producer had an output of 7,000t in March, holding no stocks at the moment.
