Thanks to Chinese government subsidies, copper foil production capacity will likely expand next year.
According to DigiTimes, “the anticipated oversupply will also put copper foil prices under pressure, sources indicated. China-based copper foil firms are expected to drop their prices significantly to attract orders, amid growing oversupply pressure…Citing statistics compiled by CCFA (China Electronics Materials Association Industry Copper Foil Sub-Association), the sources revealed that China’s copper foil industry produced a total of 263,600 tons as of the end of 2012, compared to 230,300 tons a year earlier.
“Jiangxi Copper (JCC), Shandong Jinbao Electronics and Lingbao Wason Copper Foil are among the China-based copper foil producers planning to expand capacity in 2014, the sources disclosed.”
Today’s Chinese Copper Market Prices
Following a two-day decline, the price of Chinese copper bar climbed up 0.5 percent on Thursday, August 22. The Chinese copper cash price rose 0.5 percent after a two-day drop. The price of Chinese copper wire is back up, rising by 0.5 percent yesterday. The price of Chinese bright copper scrap remained essentially flat.
The prices of US copper producer grades 102, 110 and 122 saw a 0.5 percent decline. The cash price of primary Japanese copper saw little movement yesterday.
The primary copper cash price saw a 0.4 percent decline on the LME to $7,236 per metric ton. Also on the LME, the copper 3-month price declined 0.4 percent to $7,270 per metric ton.