{"id":77787,"date":"2024-03-13T02:29:30","date_gmt":"2024-03-13T07:29:30","guid":{"rendered":"https:\/\/equitynewsreport.com\/chinas-top-copper-smelters-agree-to-production-cut-amid-raw-material-tightness-sources-say\/"},"modified":"2024-03-13T02:29:30","modified_gmt":"2024-03-13T07:29:30","slug":"chinas-top-copper-smelters-agree-to-production-cut-amid-raw-material-tightness-sources-say","status":"publish","type":"post","link":"https:\/\/equitynewsreport.com\/h\/chinas-top-copper-smelters-agree-to-production-cut-amid-raw-material-tightness-sources-say\/","title":{"rendered":"China&#8217;s top copper smelters agree to production cut amid raw material tightness, sources say"},"content":{"rendered":"<div readability=\"57\">\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<img decoding=\"async\" alt=\"China's top copper smelters agree to production cut amid raw material tightness, sources say\" id=\"carouselImage\" src=\"https:\/\/i-invdn-com.investing.com\/trkd-images\/LYNXNPEK2C06V_L.jpg\"><br \/>\n<span class=\"text\">\u00a9 Reuters. FILE PHOTO: Employees work at a copper smelter in Yantai, Shandong province, China April 26, 2023. REUTERS\/Siyi Liu\/File Photo<\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>(Reuters) &#8211; Chinese top  smelters agreed in a meeting on Wednesday to cut production at some loss-making plants to cope with a shortage of raw material, two sources close to the matter said. <\/p>\n<p>The meeting comes as copper concentrate fees on the spot market dropped to their lowest in more than a decade, hurting smelters&#8217; profits.<\/p>\n<p>There were no specific rates or volumes set for smelters to cut their production, according to the people, adding that each smelter will have their own assessment and cut accordingly. <\/p>\n<p>Other measures, including using more copper blister in production to lower consumption of copper ore concentrate, were also discussed during the meeting in Beijing on Wednesday, they added.<\/p>\n<p>Top smelters, acknowledging the shortages, proposed production cuts in a meeting in January but no action has taken place, according to people familiar with the matter. <\/p>\n<p>The most-traded copper contract on the Shanghai Futures Exchange hit a 22-month high on Wednesday. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a9 Reuters. FILE PHOTO: Employees work at a copper smelter in Yantai, Shandong province, China April 26, 2023. REUTERS\/Siyi Liu\/File Photo (Reuters) &#8211; Chinese top smelters agreed in a meeting on Wednesday to cut production at some loss-making plants to cope with a shortage of raw material, two sources close to the matter said. The meeting comes as copper concentrate fees on the spot market dropped to their lowest in more than a decade, hurting smelters&#8217; profits. There were no specific rates or volumes set for smelters to cut their production, according to the people, adding that each smelter will [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":77788,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,49,50,3],"tags":[],"_links":{"self":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77787"}],"collection":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/comments?post=77787"}],"version-history":[{"count":0,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/posts\/77787\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media\/77788"}],"wp:attachment":[{"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/media?parent=77787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/categories?post=77787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/equitynewsreport.com\/h\/wp-json\/wp\/v2\/tags?post=77787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}