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Chinese Copper Cathode Output Declines in January

Metal News - Published on Tue, 11 Feb 2020

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China’s output of copper cathode declined sharply in January, due to environmental protection-related curbs and as some smelters scaled back operations after fulfilling the production targets for 2019. This came after three consecutive months of gains, as newly-commissioned projects have largely ramped up. SMM data showed that China produced 725,900 tonnes of copper cathode last month, down 9.88% from December and 1.4% from January 2019. Chinese authorities have extended the Chinese New Year holiday and imposed restrictions on transportation to contain the fast-spreading coronavirus epidemic that began in late January. This led to logistics issues which have impacted the delivery of raw materials and accessories to copper smelters as well as shipments and sales of copper cathode and the by-product sulphuric acid. Some copper smelters, grappling with storage capacity shortages and logistics constraints, plan to trim output in February or bring forward maintenance.

Production of copper cathode in China is estimated to slip to 701,300 tonnes in February, a year-over-year decline of 2.54%. This will bring production in the first two months of 2020 to 1.43 million tonnes, down 1.96% year on year.

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Posted By : Rabi Wangkhem on Tue, 11 Feb 2020
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