Mitsubishi Materials to Cut First-Half Copper Output by 6.8%Jae Hur and Ichiro Suzuki
Mitsubishi Materials Corp. plans to cut copper output by 6.8 percent at its Japanese smelters in the April-to-September period from a year earlier as it takes a maintenance shutdown at its Naoshima smelter.
The Tokyo-based company, Japan’s third-largest copper producer, plans to produce 25,832 metric tons of copper each month in the fiscal first half, compared with monthly output of 27,722 tons in the same period a year earlier, it said in a statement today. The 30-day maintenance shutdown since March has led to a drop in shipments of anode, an intermediate product, to the Onahama smelter in Fukushima from the Naoshima smelter in western Japan, Mitsubishi said.
The company has a 50 percent stake in the Onahama smelter, followed by Dowa Holdings Co. with 31.6 percent and Furukawa Metals & Resources Co. with 12.7 percent. The remainder is owned by other Japanese companies including Mitsubishi Cable Industries Ltd. and Mitsubishi Corp.
The following table details monthly production plans:
=============================================================== Metal 1st Half 2013 1st Half 2012 2nd Half 2012 (April-Sept.) (April-Sept.) (Oct.-March) =============================================================== Copper 25,832 27,722 24,839 Lead 2,386 2,513 2,400 Zinc 786 775 880 Gold (kg) 2,583 2,765 3,000 Silver (kg) 30,000 30,733 31,833 =============================================================== * Note: The drop in refined lead output is due to supply tightness in the recycled battery scrap market. Battery scrap is a main source for refined lead production. The decline in gold and silver production is due to reduced receipt and reduced grade of raw materials.