Top Chinese copper producers will cut 2016 output by 350,000 tonnes

China’s ten largest copper producers have agreed to cut 2016 production by 350,000 tonnes, according to a statement published by a newspaper close to the China Non-Ferrous Metals Industry Assn (CNIA).

Copper prices edged up slightly on both the London Metal Exchange and the Shanghai Futures Exchange on Tuesday December 1 amid positive sentiment. Three-month LME copper rose 1% to $4,613.50 per tonne at 11.23am London time, while the SHFE's most-traded copper contract closed up 0.5% at 35,080 yuan ($5,474.28) per tonne.

Earlier in the week, there was talk of nine producers in the China Smelters...

Published

Anna Xu

December 01, 2015

12:10 GMT

Shanghai