Large copper smelters in China are boosting output and taking market share from smaller ones that are closing, data from satellite surveillance of copper plants showed.
FILE PHOTO: Copper cathodes are seen inside a warehouse near Yangshan Deep Water Port, south of Shanghai March 23, 2012. REUTERS/Carlos Barria
“It seems clear that operating margins are being pressured by rising input prices in China which is forcing some smelters out of the market,” said Guy Wolf, global head of analytics at Marex, which helped develop SAVANT. Earth-i, which specialises in geospatial data, launched its SAVANT service late last year, tracking more than 100 smelters representing 80%-to-90% of global production.
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