Shandong-located smelter Dongying Fangyuan is still smelting copper concentrates for cathodes despite the financial difficulties it must overcome to secure raw materials in the face of lawsuits, Fastmarkets has learned.
The smelter managed to obtain letters of credit (LCs) from a few domestic agents so it could purchase concentrates with its remaining balance, various sources have confirmed."At least one of Fangyuan's two lines is still operating until the lunar new year [on January 25]. They should have enough feed for now," a smelter source familiar with the matter said, referring to the...