Chinese copper cathode prices up
2024-04-19 10:54:54 [Print]
BEIJING (Asian Metal) 19 Apr 24 - Boosted by rapid increase of futures prices, prices for copper cathode in the Chinese spot market go up accordingly. Mainstream prices for the material in the domestic spot market stand at RMB77,000-77,200/t (USD10,633-10,660/t) at present, rising by RMB700/t (USD96.66/t) from yesterday. Insiders expect that prices of copper cathode would keep at a high level in the following days.
"We sold about 110t of copper cathode at around RMB77,000/t (USD10,633/t) today with a discount of RMB250/t (USD34.52/t) or so, but our price for about 120t of the material was only RMB76,400/t (USD10,550/t) or so yesterday with a discount of RMB170/t (USD23.47/t). We mainly sign long-term orders with customers from Guangdong now and only one third of orders we have signed are spot orders," a producer in South China noted.
With an annual production capacity of 300,000t, the producer produced 15,000t in March, expecting to produce 18,000t in April.
A Jiangsu-based producer said, "The current price is quite unreasonable and might break the historical high. We sold about 1,000t of copper cathode at around RMB77,100/t (USD10,648/t) delivered today with a discount of RMB100/t (USD13.81/t) or so, but our price for about 550t of the material was just RMB76,700/t (USD10,592/t) or so yesterday with a discount of about RMB40/t (USD5.52/t)."
The producer, who has an annual production capacity of 300,000t, produced 25,000t last month, expecting that the output in April would continue to stand at this level. They hold about 800t of stocks for the time being.
"We sold about 110t of copper cathode at around RMB77,000/t (USD10,633/t) today with a discount of RMB250/t (USD34.52/t) or so, but our price for about 120t of the material was only RMB76,400/t (USD10,550/t) or so yesterday with a discount of RMB170/t (USD23.47/t). We mainly sign long-term orders with customers from Guangdong now and only one third of orders we have signed are spot orders," a producer in South China noted.
With an annual production capacity of 300,000t, the producer produced 15,000t in March, expecting to produce 18,000t in April.
A Jiangsu-based producer said, "The current price is quite unreasonable and might break the historical high. We sold about 1,000t of copper cathode at around RMB77,100/t (USD10,648/t) delivered today with a discount of RMB100/t (USD13.81/t) or so, but our price for about 550t of the material was just RMB76,700/t (USD10,592/t) or so yesterday with a discount of about RMB40/t (USD5.52/t)."
The producer, who has an annual production capacity of 300,000t, produced 25,000t last month, expecting that the output in April would continue to stand at this level. They hold about 800t of stocks for the time being.
