China's copper industry climate index was reported at 22.59 for October, down 0.87 from September, according to China Nonferrous Metals Industry Association. The index has kept falling since October 2014, the association said. Chinese concentrate copper ore output has dropped markedly, accompanied by much lower profit margins in the copper mining and selecting sector. Copper smelters also saw lower profits in October compared to a year ago, due to turbulent copper prices, the association said. As the majority of copper-consuming industries remain sluggish, it is expected the downward pressure of copper industry would remain intense in the fourth quarter.
Latest comments