Chinese copper smelter Daye destocks sulfuric acid at discount; no plan for force majeure

Major Chinese copper smelter Daye Nonferrous, at the heart of the region affected by the coronavirus outbreak, is managing to continue its copper production activities by destocking the sulfuric acid byproduct at a discount, Fastmarkets has learnt.

“We have no plans to declare force majeure so far,” a source with direct knowledge of the matter said. “We are still receiving overseas shipments of copper concentrates, although transport has slowed down significantly.”
Transport movements in Hubei province were being kept to a minimum to help contain the spread of the virus. Travel restrictions have made it difficult for many people to return to work after the lunar new year holiday.

Daye Nonferrous is located in the city of Huangshi in Hubei, which borders Wuhan, where the coronavirus outbreak began. The 600,000 tonne-per-year copper producer has come...


Julian Luk

February 12, 2020

14:35 GMT