NewsSignals AI analysis·Reuters·Nov 6, 2026

Falling sulphuric acid prices deepen China's copper smelter squeeze

Grade Abullish AI signal$HG

China's copper smelters are facing a deepening profitability squeeze as falling sulphuric acid prices compound record-low negative processing fees, threatening further production cuts. Chinese sulphuric acid prices have dropped 30% in Q3 to 1,484 yuan per metric ton, while spot copper treatment charges hit a record low of minus $246.40 per ton on October 30. Extended maintenance outages and potential production cuts could slow global refined copper supply further, while mounting losses may intensify into 2027.

Bullish strength: 65/100

Potential Chinese smelter production cuts could tighten global refined copper supply.
Extended maintenance outages are keeping Chinese copper output on track for its slowest pace in decades.
China produces more than half of the world's refined copper.

Bearish strength: 35/100

Sulphuric acid prices fell 30% in Q3, eroding smelter profitability.
Spot copper treatment charges reached a record low of minus $246.40 per ton.
Major Chinese smelters reported sharp sequential declines in third-quarter profits.
Operating losses and further production pressures are expected to become more severe in 2027.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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