Copper concentrate market slack in China
2014-01-17 13:39:45 [Print]
BEIJING (Asian Metal) 17 Jan 14 - Copper prices in China fluctuated narrowly in the past few days, and copper concentrate market became relatively stable with few deals concluded, Asian Metal reported.
A consumer in Inner Mongolia with the consumption of over 10,000tpm reported that most Chinese smelters rebuilt stocks of copper concentrate for the coming Spring Festival holiday and sat on the sidelines. “We hold around 7,000t of copper concentrate on hand, and we sign long-term contracts with overseas suppliers,” said the source, adding that they have no plan to make purchases from domestic suppliers before the holiday.
The source revealed that copper concentrate 20%min prices are at the ratio of 85% based on copper futures on the SHFE, the same with those last week. Moreover, the spot treatment charges of imported copper concentrate stood at USD110-120/t early this week, on a par with that early this month. “I think copper prices may continue to range narrowly,” said the source.
A trader in Jiangxi with the sales volume of 6,000tpm confirmed that copper concentrate market in China is inactive, and the trading slows down. “Most copper mines shut up for the coming holiday, and traders are reluctant to hold large stocks before the holiday,” said the source, adding that the prevailing prices of copper concentrate 20%min in local place were at RMB43,000-43,200/t (USD7,096-7,129/t) delivered this Thursday, almost unchanged compared with those in the previous day.
The source said that Chinese imports of copper concentrate kept rising in the past few months, and most smelters have large stocks on hand. Moreover, domestic supply is not so tight as before. “We hold around 4,000t of copper concentrate in stock and have no plan to purchase more in the near term,” said the source.
A consumer in Inner Mongolia with the consumption of over 10,000tpm reported that most Chinese smelters rebuilt stocks of copper concentrate for the coming Spring Festival holiday and sat on the sidelines. “We hold around 7,000t of copper concentrate on hand, and we sign long-term contracts with overseas suppliers,” said the source, adding that they have no plan to make purchases from domestic suppliers before the holiday.
The source revealed that copper concentrate 20%min prices are at the ratio of 85% based on copper futures on the SHFE, the same with those last week. Moreover, the spot treatment charges of imported copper concentrate stood at USD110-120/t early this week, on a par with that early this month. “I think copper prices may continue to range narrowly,” said the source.
A trader in Jiangxi with the sales volume of 6,000tpm confirmed that copper concentrate market in China is inactive, and the trading slows down. “Most copper mines shut up for the coming holiday, and traders are reluctant to hold large stocks before the holiday,” said the source, adding that the prevailing prices of copper concentrate 20%min in local place were at RMB43,000-43,200/t (USD7,096-7,129/t) delivered this Thursday, almost unchanged compared with those in the previous day.
The source said that Chinese imports of copper concentrate kept rising in the past few months, and most smelters have large stocks on hand. Moreover, domestic supply is not so tight as before. “We hold around 4,000t of copper concentrate in stock and have no plan to purchase more in the near term,” said the source.
Copper Conc. 20%min Delivered China
Unit:RMB/mt Cu
China copper concentrate producers' number MoM output increase statistics by province by month
Unit: pcs
