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deleted
81 Posts |
 Posted - 04/15/2008 : 21:23:27
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Firm international copper prices and low processing fees are limiting Chinese smelters' imports of spot concentrate and increasing the use of scrap, a cheaper alternative for refined copper production.
Strong global copper prices relative to the domestic market are reducing China's scrap imports. Scrap importers are selling the stocks they have now, but are unlikely to order more material before June as it would arrive during the mid-year lull.
But refined copper production growth in China, the top consumer of the industrial metal, may still rise by above 10 percent this year, as large smelters have booked nearly enough term concentrate imports for the first three quarters of this year, a trade manager at a northern smelter said.
"Refined copper output should reach 3.8 million tonnes this year. More than that, will depend on scrap supply," the trade manager said.
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 04/15/2008 : 21:36:49
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We're in the money, we're in the money;
We've got a lot of what it takes to get along!
We're in the money, that sky is sunny,
Old Man Depression you are through, you done us wrong. |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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High copper prices hurt China ore, scrap imports
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