BEIJING (Asian Metal) 21 Jan 20 - Zhangjiagang United Copper Co., Ltd., a subsidiary of Tongling Nonferrous Metals Group, overfulfilled its annual production target for 2019 by producing about 285,000t of copper cathode in the year, according to a source from the company.

"Up to December 31, we had produced about 285,000t of copper cathode, which exceeded our annual production target of 280,000t for 2019," said the source, adding that about 98.62% of production is up to grade-A copper cathode standard, the highest rate since its copper cathode project went into operation.

With a copper cathode production capacity of 300,000tpy, the company reported total output of about 285,000t in 2019 and plans to raise production by about 20,000t to 300,000t in 2020. The company produced about 23,000t in December and expects to increase production by about 1,000t in January. Mainly using anode plate and blister copper as the raw materials, the company sells copper cathode to copper mill product plants in eastern China.

Mainstream prices for Chinese copper cathode 99.99%min stood at RMB48,760-48,960/t (USD7,101-7,130/t) delivered this Monday, down by about RMB70/t (USD10.19/t) from last Friday.