Mainland China copper output up 2.3pc in September

Mainland China’s refined copper production rose 2.3 per cent in September from the previous month, hitting a three-month peak due to increasing output at some new smelters and higher supplies of raw material.

Refined copper production reached 680,235 tonnes in September, the highest since June and rising from 664,954 tonnes in August, data from the National Bureau of Statistics showed on Tuesday.

“Some new smelters have been gradually increasing production,” said Ye Yugang, an analyst at Jinrui Futures. He added that some older smelters had also stepped up production after completing repairs in the summer.

That pushed up overall output slightly despite other smelters curbing production due to weak metal prices.

Jiangxi Copper has said it will cut output by 10 per cent over the next few months. Jinchuan Group has crimped production due to problems in a sulphur facility.

Supplies of raw material copper concentrate also rose as imports jumped 5.2 per cent in September, supporting metal production.

Copper output was likely to climb slightly in October, even though domestic demand was still lukewarm due to the slowing economy, Ye said.