Mitsubishi Materials to Cut First-Half Copper Output by 6.8%

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:

(metric tons)

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.
(Adds table.)
    Before it's here, it's on the Bloomberg Terminal. LEARN MORE