China's refined copper industrial utilisation rate investigation and analysis by October 2016

Published by OILCHEMDATA.COM

Editor: Kahler

OILCHEMDATA was committed to investigate over 29 Chinese copper smelting enterprises' utilisation rate in October 2016, and acquired data as follow:
Total capacity of electrolytic copper: 8.6 million mt annually;
Total running capacity: 6.7 million mt annually;
Industrial utilisation rate: 77.7%, up 0.2% from September.

Details as shown below:

October saw a big fluctuation of discount and premium of electrolytic copper's price, low end RMB100 and high end RMB370 or so, and currently remaining between RMB100-150. While copper smelting plants' processing charge also edged up, as during 4th season 20 grade TC/RC smelting plants' processing charge at around USD104/mt, gain USD3~4/mt. Spot market fueled by rising copper's price, was running well in trading, as market supply was abundant and traders were positive to sales, meanwhile downstream purchase had small increase.

Smelting plants front, Yunnan Copper Industrial Company's revenue during January-September was RMB38.23 billion, down 20.49% year on year; Zijin Mining Industrial Corporation realized a net profit RMB886 million in a single season from July to September, surged by 154.42%; Tongling Nonferrous Company's revenue in 3rd season was RMB23.13 billion, up 4.22%. Tongling planned to build a biggest copper-based new material industrial base of China, with an effort to extend deep processing industrial chain through copper rods (line, cable), PCB, copper strip, copper bar, copper tube, copper powder, copper artwork, etc.; Zhongse Holdings' Baxiaku Copper Project has launched into production, with annually processing ability 30 million mt copper ore and 40 years of designed services years, and ore's average grade 0.36%. Shengzhou Copper Industrial Company located in Changzhou has upgraded, with shutdown of its electrolytic copper production and focus on copper products. From the overview, inventory in three places decreased, and each gaint smelting enterprise has no cutting of their output and no turnaround plan. OILCHEMDATA expect a small rise of utilisation rate in upcoming November.

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