Japan's Furukawa plans 34.2% y/y reduction in H2 copper output

Mitsubishi Materials

02/10/2023 10:25

TOKYO, Oct 2 (Reuters) - Japanese smelter Furukawa Co
Ltd  5715.T  plans to produce 23,301 metric tons of refined
copper in the second half of the 2023/24 financial year, down
34.2% from the same period a year earlier, it said on Monday.
    The second half of Japan's financial year is from October to
March.
    The drop in output comes after Mitsubishi Materials Corp
 5711.T  took full ownership of the Onahama Smelting and
Refining copper joint venture from April, buying the stakes of
Furukawa and DOWA Holdings  5714.T . 
    Following are details of Furukawa's output plan, with
comparisons against estimated production in the first half of
the 2023/24 year and actual production in the second half of the
2022/23 financial year, which ended on March 31.
(copper in tonnes):
            H2 FY23/24   H1 FY23/24      H2 FY22/23
 Copper         23,301       24,962          35,401
 
 (Reporting by Yuka Obayashi; editing by Robert Birsel)
 ((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265))