China’s refined copper output rose by 8.1% month-on-month in May despite maintenance at several major smelters during the period.
Output in May reached 652,379 tonnes, compared with 603,498 tonnes in April, the National Bureau of Statistics (NBS) data released late last week showed. Output was 5.52% higher on an annual basis.
China produced 3.09 million tonnes of refined copper during the first five months of 2015, up 9.51% year-on-year.
Maintenance carried out by major smelters including Jinchuan, Xiangguang and Tongling Nonferrous during the months failed to curb output.
“As these are scheduled annual shutdowns, enough anode and blister can be be prepared in advance, making the real maintenance time much shorter,” said a major smelter source.
The Metal Bulletin Copper Concentrates Index for 28% clean copper concentrates was calculated at $86.8 per dmt and 8.68 cents per lb on June 15, the lowest since September 2013.
Kiki Kang
Kiki.kang@metalbulletinasia.com
Wechat: KikiKang_MB
