Chinese copper cathode prices up
2024-04-23 11:00:55 [Print]
BEIJING (Asian Metal) 23 Apr 24 - Owing to continuous increase of futures prices, prices for Chinese copper cathode in the spot market rise accordingly, but deals are relatively limited as downstream consumers are still waiting on the sidelines. Mainstream prices of copper cathode in the domestic spot market stand at RMB79,900-80,100/t (USD11,028-11,056/t) currently, RMB1,100/t (USD152/t) higher than last Friday.
"We purchased about 200t of copper cathode at RMB79,900/t (USD11,028/t) or so today with a discount of around RMB200/t (USD27.60/t), while we purchased about 1,000t of the material at RMB78,900/t (USD10,890/t) or so last Friday with a discount of around RMB210/t (USD28.99/t). Now we still need to watch the price trend, which fluctuates sharply," a Jiangsu-based consumer said.
With an annual consumption capacity of about 360,000t, the consumer consumed 15,000t last month, expecting that the consumption volume this month would be 10,000t.
A producer in Henan said, "We sold 300t of copper cathode at RMB80,100/t (USD11,056/t) today, but our price for the same volume of the material was only RMB78,900/t (USD10,890/t) last Friday. There is still room for copper prices to go up now, when downstream consumers still take a wait-and-see attitude and we only make deliveries for monthly orders with no extra stocks in hand for spot orders.
With an annual production capacity of 120,000t, the producer produced 7,000t in March, holding no stocks for the time being.
"We purchased about 200t of copper cathode at RMB79,900/t (USD11,028/t) or so today with a discount of around RMB200/t (USD27.60/t), while we purchased about 1,000t of the material at RMB78,900/t (USD10,890/t) or so last Friday with a discount of around RMB210/t (USD28.99/t). Now we still need to watch the price trend, which fluctuates sharply," a Jiangsu-based consumer said.
With an annual consumption capacity of about 360,000t, the consumer consumed 15,000t last month, expecting that the consumption volume this month would be 10,000t.
A producer in Henan said, "We sold 300t of copper cathode at RMB80,100/t (USD11,056/t) today, but our price for the same volume of the material was only RMB78,900/t (USD10,890/t) last Friday. There is still room for copper prices to go up now, when downstream consumers still take a wait-and-see attitude and we only make deliveries for monthly orders with no extra stocks in hand for spot orders.
With an annual production capacity of 120,000t, the producer produced 7,000t in March, holding no stocks for the time being.
