Shandong Fangyuan cuts copper cathode output
2024-04-29 11:08:33 [Print]
BEIJING (Asian Metal) 29 Apr 24 - Shandong Fangyuan Nonferrous Metal Group Co., Ltd., a major copper cathode smelter in China, plans to conduct equipment maintenance for the second quarter in mid-May and expects to cut output by 10,000t during the maintenance.
"We plan to conduct equipment maintenance from mid-May to mid-June, expecting to cut copper cathode output by about 10,000t in total," a source from the company said, adding that the other reason for them to cut production is the fact that the consumption for copper cathode from downstream consumers, who only keep about 50% of operating rates now, is limited while raw material prices keep increasing. The company expects to resume production in late June.
With an annual production capacity of 700,000t, the company expects to produce about 40,000t this month, steady from last month. It holds almost no stocks at the moment.
Mainstream prices for copper cathode in Shandong stood at RMB79,950-80,150/t (USD11,033-11,060/t) EXW D/P last Friday, up by RMB1,500/t (USD207/t) from last Thursday in spite of limited deals from downstream customers who were cautious about refilling stocks. Insiders expect that mainstream prices of copper cathode would go up slightly in the spot market in the following days.
"We plan to conduct equipment maintenance from mid-May to mid-June, expecting to cut copper cathode output by about 10,000t in total," a source from the company said, adding that the other reason for them to cut production is the fact that the consumption for copper cathode from downstream consumers, who only keep about 50% of operating rates now, is limited while raw material prices keep increasing. The company expects to resume production in late June.
With an annual production capacity of 700,000t, the company expects to produce about 40,000t this month, steady from last month. It holds almost no stocks at the moment.
Mainstream prices for copper cathode in Shandong stood at RMB79,950-80,150/t (USD11,033-11,060/t) EXW D/P last Friday, up by RMB1,500/t (USD207/t) from last Thursday in spite of limited deals from downstream customers who were cautious about refilling stocks. Insiders expect that mainstream prices of copper cathode would go up slightly in the spot market in the following days.
