Chinese copper cathode market sees limited deals
2024-05-01 09:11:00 [Print]
BEIJING (Asian Metal) 1 May 24 - The Chinese copper cathode market sees limited deals on the whole this week as downstream customers keep waiting on the sidelines as a result of the increase of prices. Mainstream prices of Chinese copper cathode stand at RMB81,400-81,600/t (USD11,239-11,267/t) EXW D/P currently, up by RMB1,100/t (USD152/t) from yesterday. Insiders expect that prices of copper cathode would continue to fluctuate at a high level in the following days.
"Only two customers send enquiries to us today when no deals are concluded, but yesterday we totally received five-six enquiries and finally sold about 100t of the material at RMB80,300/t (USD11,087/t)," a Xinjiang-based producer said, adding that they ship their copper cathode to East China for sales. As copper cathode prices keep rising and most customers have completed refiling stocks, their customers prefer to wait on the sidelines at the moment. The producer predicts that prices of copper cathode would stay at a high level in the coming days.
With an annual production capacity of 12,000t, the producer halted production for equipment maintenance in March and produced about 1,000t in April. They hold about 900t of stocks currently.
"Our copper cathode sales are about 800t today, but the sales were close to 1,000t yesterday. Downstream customers have no intention to replenish extra stocks now given high prices," a producer in Jiangsu said. They sold about 800t of the material at RMB81,500/t (USD11,253/t) EXW D/P this morning, but with no sales this afternoon. In addition, they sold approximately 1,000t of the material at RMB80,450/t (USD11,108/t) yesterday. The producer expects that prices of copper cathode would keep fluctuating at a high level in early May.
With an annual production capacity of 300,000t, the producer produced about 25,000t and 27,000t in March and April respectively. They hold no stocks for the time being.
"Only two customers send enquiries to us today when no deals are concluded, but yesterday we totally received five-six enquiries and finally sold about 100t of the material at RMB80,300/t (USD11,087/t)," a Xinjiang-based producer said, adding that they ship their copper cathode to East China for sales. As copper cathode prices keep rising and most customers have completed refiling stocks, their customers prefer to wait on the sidelines at the moment. The producer predicts that prices of copper cathode would stay at a high level in the coming days.
With an annual production capacity of 12,000t, the producer halted production for equipment maintenance in March and produced about 1,000t in April. They hold about 900t of stocks currently.
"Our copper cathode sales are about 800t today, but the sales were close to 1,000t yesterday. Downstream customers have no intention to replenish extra stocks now given high prices," a producer in Jiangsu said. They sold about 800t of the material at RMB81,500/t (USD11,253/t) EXW D/P this morning, but with no sales this afternoon. In addition, they sold approximately 1,000t of the material at RMB80,450/t (USD11,108/t) yesterday. The producer expects that prices of copper cathode would keep fluctuating at a high level in early May.
With an annual production capacity of 300,000t, the producer produced about 25,000t and 27,000t in March and April respectively. They hold no stocks for the time being.
