Extract From Mining. com/Reuters Article Chinese top copper...

Extract From Mining. com/Reuters Article

Chinese top copper smelters on Wednesday came to a rare agreement to jointly embark on production cuts at some loss-making plants as they seek to cope with a shortage of raw material, according to sources with knowledge of the plans…..


The agreement, made at a meeting in Beijing, comes as fees to process copper concentrate on the spot market have dropped to their lowest in more than a decade.

Chinese top producers Jiangxi Copper, Tongling Nonferrous Metals Group, Jinchuan Group and China Copper did not immediately respond to a request for comment.

Chinese smelters have been rapidly expanding their capacity over the past year to get ahead of an expected surge in copper demand from sectors related to the green energy transition such as electric vehicles or wind and solar energy.

But several mine disruptions globally, including the shutdown of the big Cobre mine in Panama owned by First Quantum, have meant copper concentrate is now in short supply.

https://www.mining.com/web/chinas-t...ee-on-rare-joint-production-cuts-sources-say/

Goodluck to all holders and believers in HMX.

Cheers Aussie