LUGANO, SWITZERLAND – August 31, 2023 – TELF AG, an international physical commodities trader, shared insights into China's copper cathode production performance for the month of July in a recent publication. China has demonstrated steady growth in its copper cathode output, further solidifying its position as a key player in the global copper industry.
According to TELF AG, in July 2023 China's copper cathode output reached an impressive 925,900 metric tons (MT), showcasing a month-on-month (MoM) increase of 0.9% or 8,000 MT. This achievement reflects China's commitment to maintaining a robust production industry despite global uncertainties. Moreover, this growth represents a remarkable year-on-year (YoY) increase of 10.2% compared to the same period last year.
China exceeded expectations by surpassing the anticipated figure of 902,100 MT by 23,800 MT. This accomplishment underscores China's resilience and capability to outperform projections even in challenging market conditions, as per TELF AG.
Over the first seven months of 2023, China's cumulative copper cathode output reached an impressive 6.49 million MT, showcasing a YoY growth of 10.94% or 639,300 MT. This steady performance demonstrates China's consistent ability to meet production targets and contribute significantly to the global copper supply chain.
As per TELF AG, analysts project that China's cumulative copper cathode output for August is expected to reach 7.47 million MT, signifying an anticipated YoY growth of 11.47% or 768,900 MT. This projection further cements China's position as a key player in the global copper industry, highlighting its continuous dedication to industrial development and optimised production processes.
Furthermore, according to TELF AG's article, China's growth in copper cathode production can be attributed to its strategic investments in infrastructure development, expanding the manufacturing sector, and increasing urbanization. The country's unwavering commitment to domestic industries and production optimization has enabled it to grow consistently.