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Copper smelting slides in China in October, satellite information programs

International copper smelting fell in October, weighed down by a slide in activity on the planet's. top copper refiner China, data from satellite monitoring. showed.

Earth-i, which specialises in observational information, tracks. smelters representing up to 90% of international production for its. Sage service and sells data to money managers, traders and. miners.

Last month, an average of 16.1% of global copper smelter. capacity kept an eye on was inactive, up from 14.2% in September, the. business stated.

This was extremely due to a ... slump in smelting. activity in China, Earth-i said in a declaration.

This is an indication of the economic pressures facing. custom smelters.

Smelter inactivity in China in October acquired 4.8 portion. points from the previous month to 15.5%, the highest since. April, when smelters generally close down for maintenance.

Chinese copper smelters are likely to further cut. production, closed down or extend upkeep to deal with a. severe shortage of basic material or concentrate supply next year,. participants at a conference in Shanghai said on Wednesday.

Copper smelting also plunged in North America, where the. lack of exercise index rose by 11.9 portion points to 39.8%. That. did not have as much effect on the broader image because the. area just accounts for 6% of worldwide capability, Earth-i added.

In Africa, which also represents about 6% of world copper. smelting, activity leapt, partly due to the resumption of. activity at the Nchanga smelter in Zambia after Vedanta. restored control earlier this year, the statement. stated.

(source: Reuters)