Non-ferrous metals may fall into the trap of capacity expansion
2023-04-02 15:21:58
The industry expects the increase in processing fees to indicate a further upward trend in international copper prices in the future, as the increase in processing fees by ore merchants is an optimistic expectation for the current and future markets. The author learned from several large domestic smelting companies that the copper refining spot processing fee has risen from US$70 to US$80 per ton before the earthquake in Japan to US$140 to US$150 per ton. According to industry insiders, the Japanese is about three points. One of the smelting capacity was discontinued, and due to the impact of nuclear radiation, Japan's actual smelting capacity was more serious than expected, and the possibility of further increase in spot processing fees was not ruled out. At the middle of the year or at the end of the year, domestic smelting companies will negotiate with international ore merchants on the processing fees for the next six months or one year. This part is a long-term contract. In addition, each smelter still retains a part of the spot copper concentrate processing business. This increase is the part of the spot processing fee. According to Li Yusheng's judgment, since the beginning of this year, domestic copper smelting, long-term contracts and short-term contracts are almost half of each other. Therefore, the increase in spot processing fees will inevitably affect the company's annual income, but because the major copper companies are themselves The proportion of long-term and short-term contracts is confidential, so each company benefits differently.
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