Oct 12 (Reuters) – China’s copper smelters increased their production of refined cathodes by 3% in September from a month earlier, as the country’s main plants did not suffer the effects of a regular maintenance period, it said on Monday. the Antaike brokerage.
According to a report by the firm, a total of 22 smelters surveyed produced 747,100 tonnes of copper cathodes last month in China, which represents a year-on-year decrease of 0.3% but reflects an advance over 725,500 tonnes in August.
The figure also beats Antaike’s estimates of 730,000 tonnes production in September.
In the first nine months of 2020, Chinese smelters produced 6.26 million tons of copper cathodes, a year-on-year decrease of 1.6%, due to the impact that the restrictions due to the coronavirus pandemic had on operating rates at the beginning of the year.
Antaike, the brokerage and market analyst of the China Non-Ferrous Metal Industries Association, expects the red metal cathode production in October to drop to around 740,000 tonnes, due to maintenance works at the plants.
China is the world’s largest consumer of industrial metals, including copper.
(Reporting by Tom Daly. Edited in Spanish by Marion Giraldo)