China’s Copper Smelters Vow Capacity Controls After Fees Plunge

(Bloomberg) — China’s copper smelters pledged to control capacity as the industry responds to a tightening in the global concentrate market that’s led to processing fees falling to next to nothing.

Executives from 19 smelters have agreed to rearrange maintenance work, reduce runs and delay the startup of new projects, the China Nonferrous Metals Industry Association said in a statement, following a meeting in Beijing on Wednesday. The group stopped short of outright production cuts and the statement didn’t give details on the scope of the adjustments.