Japan's Pan Pacific H1 copper output below initial plan
Japan's Pan Pacific H1 copper output below initial plan TOKYO, Oct 1 (Reuters) - Pan Pacific Copper (PPC) said on Thursday its consigned production of refined copper in the first half of the 2026 fiscal year was estimated at 284,200 metric tons, below its April plan of 312,700 tons due to troubles at consigned facilities.
Japan's biggest supplier of the metal also said it could not disclose its production plan for the second half as it is still assessing various factors, including treatment and refining charges (TC/RC) negotiations with miners
A company spokesperson said the timing of the announcement remains unclear
Japan's major base metal suppliers typically announce their six-month output plans twice a year, in early April and early October, and it is unusual for PPC not to disclose its outlook
PPC is 47.8% owned by JX Advanced Metals 5016.T, 32.2% by Mitsui Kinzoku 5706.T and 20% by Marubeni 8002.T
PPC outsources smelting and refining to plants operated by its parent companies. It procures raw materials and sells the refined metals
The TC/RCs, paid by miners to smelters for converting copper concentrate into refined metal, have stayed negative for 21 months, signaling an acute tightness of concentrate supply
Spot processing fees were assessed at minus $226.2 a metric ton on September 18, versus minus $215.9 a week earlier and minus $41.6 a year before, data from information provider Argus showed
(Reporting by Yuka Obayashi. Editing by Mark Potter)
((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))