The production projections for eight major non-ferrous smelting and refining companies for the first half of FY 2024 (April to September) have been disclosed. Among these, three out of six companies intend to boost electrolytic copper production, contributing to an anticipated overall increase of 4.2% (approximately 33,000 t) compared to the same period last year, reaching around 815,000 t.
Notably, Sumitomo Metal Mining predicts a 20% y-o-y production surge, along with the top three copper producers, indicating a collective increase in copper production surpassing the previous year’s figures. Additionally, two out of three companies plan to raise zinc production, anticipating an 8.7% rise (about 18,000 t) to approximately 229,000 t. Furthermore, three out of four companies aim to ramp up lead production, foreseeing a 5.9% increase (around 6,000 t) to about 103,000 t.
In the realm of electrolytic copper production, Pan Pacific Copper (PPC), the primary supplier, is anticipated to decrease production due to actions taken by the Japan-Philippines Joint Smelting and Refining. However, JX Nippon Mining & Metals Smelting is poised to boost production, leading to a marginal overall increase. Sumitomo Metal Mining plans a significant production surge at the Toyo Plant in Ehime Prefecture, as no maintenance disruptions are expected this fiscal year.
Mitsubishi Materials anticipates ramping up production at its Naoshima Smelter in Kagawa Prefecture, attributed to the impact of efficiency deterioration in the electrolysis process during the same period of the preceding year.
In the zinc sector, Mitsui Kinzoku, the world’s leading producer, is anticipated to register only a slight increase in production. However, overall production is expected to experience a substantial rise, driven by DOWA Holdings’ acquisition of full ownership of Akita Smelting & Refining (Akita Prefecture) in March. Concerning lead, Toho Zinc, the largest producer globally, plans a significant production boost, with Mitsui Kinzoku and Mitsubishi Materials also expected to increase their output.
Conversely, ferro nickel production is projected to decline due to Sumitomo Metal Mining’s adjustments to production in response to sales conditions and other factors. Among gold companies, four out of seven are expected to decrease production, although Mitsubishi Materials is poised to achieve a double-digit percentage increase overall, primarily due to a substantial rise in output attributed to increased acceptance of raw materials. Additionally, five out of eight silver companies are planning production cuts.
Note: This article has been published in accordance with an article exchange agreement between Japan Metal Daily and BigMint.