Chinese copper cathode prices up
2024-04-30 10:08:53 [Print]
BEIJING (Asian Metal) 30 Apr 24 - Most Chinese copper cathode suppliers raise their prices once again today, but most downstream customers only refill stocks from hand to mouth. Mainstream prices of Chinese copper cathode stand at RMB80,300-80,500/t (USD11,114-11,142/t) EXW D/P today, rising by RMB400/t (USD55.36/t) from last Friday. Insiders expect that there's still possibility for copper cathode prices to go up in early May.
"We sold about 90t of copper cathode at around RMB80,400/t (USD11,128/t) EXW today, while our price for a deal of about 150t of the material was only RMB79,900/t (USD11,059/t) last Friday," a Henan-based producer said, adding that their downstream customers intend to halt production owing to high prices for copper cathode. The producer thinks that prices for Chinese copper cathode would keep rising in early May.
With an annual production capacity of 120,000t, the producer produced 7,000t in March, expecting that the output in April would keep unchanged MoM. They hold no stocks at the moment.
A consumer in Henan stated, "We purchased 500t of copper cathode at RMB80,300/t (USD11,114/t) EXW D/P today." Their purchasing price for 600t of copper cathode stood at RMB79,900/t (USD11,059/t) and RMB80,100/t (USD11,086/t) on the morning and afternoon of last Friday respectively. The consumer disclosed that it's difficult for suppliers to sell copper cathode now, expecting that their purchase volume would decline as prices go up.
With an annual consumption capacity of 170,000t, the consumer consumed about 8,000t in March, expecting to consume 7,500t or so in April.
"We sold about 90t of copper cathode at around RMB80,400/t (USD11,128/t) EXW today, while our price for a deal of about 150t of the material was only RMB79,900/t (USD11,059/t) last Friday," a Henan-based producer said, adding that their downstream customers intend to halt production owing to high prices for copper cathode. The producer thinks that prices for Chinese copper cathode would keep rising in early May.
With an annual production capacity of 120,000t, the producer produced 7,000t in March, expecting that the output in April would keep unchanged MoM. They hold no stocks at the moment.
A consumer in Henan stated, "We purchased 500t of copper cathode at RMB80,300/t (USD11,114/t) EXW D/P today." Their purchasing price for 600t of copper cathode stood at RMB79,900/t (USD11,059/t) and RMB80,100/t (USD11,086/t) on the morning and afternoon of last Friday respectively. The consumer disclosed that it's difficult for suppliers to sell copper cathode now, expecting that their purchase volume would decline as prices go up.
With an annual consumption capacity of 170,000t, the consumer consumed about 8,000t in March, expecting to consume 7,500t or so in April.
