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UPDATE 1-Mitsubishi Materials sees first-half copper output up 13 pct y/y
April 3, 2017 / 11:59 AM / in 4 months

UPDATE 1-Mitsubishi Materials sees first-half copper output up 13 pct y/y

3 Min Read

    * Copper output to rise due to higher capacity at Onahama
    * Conducting 27-day maintenance at Naoshima from March 20
    * Lead output to drop due to lower supply of battery scrap

 (Adds details)
    TOKYO, April 3 (Reuters) - Japan's Mitsubishi Materials Corp
 said on Monday it planned to produce 177,186 tonnes of
refined copper during April-September, up 13 percent from the
same period last year as it takes on more smelting capacity.
    Japan's third-biggest copper smelter expects output at its
Naoshima Smelter and Refinery in western Japan to rise 4 percent
while production at Onahama Smelting and Refining, north of
Tokyo, is planned to increase about 30 percent, it said.
    The Onahama plant is jointly owned with Dowa Holdings Co Ltd
 and Furukawa Co Ltd.
    As part of an agreement between the partners, Mitsubishi
Materials is gradually taking a part of the smelting capacity
previously assigned to Dowa, starting from the last financial
year.
    Dowa said on Monday its copper output during April-September
is expected to fall 17.7 percent from a year earlier while
Furukawa said it planed to increase its first-half output by 1.3
percent.
    "Overall local copper demand has been steady," a spokesman
at Mitsubishi Materials said.
    The company is conducting a 27-day maintenance at the
Naoshima plant from March 20 and it plans a 21-day maintenance
at the Onahama plant starting from October 21.
    Mitsubishi Materials plans to cut its lead output between
April and September by 1.9 percent due to lower supply of lead
battery scrap.
    The company's output plan is detailed below, with
comparisons against planned production in the second half of the
financial 2016/17 year that ended March 31 and actual production
in the first half of 2016/17.
 (copper and lead in tonnes, gold and silver in kilograms):
    
           H1 FY17/18   H2 FY16/17  H1 FY16/17
 Copper       177,186      160,272     156,888
 Lead          13,728       14,082      13,998
 Gold          24,798       25,500      19,080
 Silver       190,998      187,002     178,026
 
 (Reporting by Yuka Obayashi; Editing by Biju Dwarakanath and
Jane Merriman)
  

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