Chinese copper cathode prices up
2024-04-22 10:49:45 [Print]
BEIJING (Asian Metal) 22 Apr 24 - Boosted by the increase of futures prices, prices of copper cathode in the Chinese spot market go up accordingly. Mainstream prices for the material in the domestic spot market stand at RMB78,800-79,000/t (USD10,881-10,908/t) today, rising by RMB800/t (USD110/t) from yesterday. Insiders expect that mainstream prices of the material would keep increasing in the coming days.
"We sold about 120t of copper cathode at around RMB78,700/t (USD10,867/t) today with a discount of RMB280/t (USD38.66/t), while our price for about 120t of the material yesterday was only around RMB76,900/t (USD10,619/t) with a discount of RMB320/t (USD44.19/t)," a Xinjiang-based producer said. The producer, who usually produces copper cathode by a wet process, expects that prices for copper cathode would rise further in the future.
With an annual production capacity of 12,000t, the producer halted production in March, expecting that their output in April would be 600t or so. They hold about 1,600t of stocks now.
A producer in Jiangxi stated, "Demand from downstream consumers is repressed now. Customers mainly place orders in the morning rather than in the afternoon. We sold about 130t of copper cathode at around RMB78,800/t (USD10,881/t) today with a discount of RMB150/t (USD20.71/t), while we sold about 140t of the material at RMB77,050/t (USD10,640/t) yesterday with a discount of RMB180/t (USD24.86/t)."
With an annual production capacity of 170,000t, the producer produced 8,000t last month, expecting that the output this month would be unchanged MoM. They hold about 1,500t of stocks at the moment.
"We sold about 120t of copper cathode at around RMB78,700/t (USD10,867/t) today with a discount of RMB280/t (USD38.66/t), while our price for about 120t of the material yesterday was only around RMB76,900/t (USD10,619/t) with a discount of RMB320/t (USD44.19/t)," a Xinjiang-based producer said. The producer, who usually produces copper cathode by a wet process, expects that prices for copper cathode would rise further in the future.
With an annual production capacity of 12,000t, the producer halted production in March, expecting that their output in April would be 600t or so. They hold about 1,600t of stocks now.
A producer in Jiangxi stated, "Demand from downstream consumers is repressed now. Customers mainly place orders in the morning rather than in the afternoon. We sold about 130t of copper cathode at around RMB78,800/t (USD10,881/t) today with a discount of RMB150/t (USD20.71/t), while we sold about 140t of the material at RMB77,050/t (USD10,640/t) yesterday with a discount of RMB180/t (USD24.86/t)."
With an annual production capacity of 170,000t, the producer produced 8,000t last month, expecting that the output this month would be unchanged MoM. They hold about 1,500t of stocks at the moment.
