Bearish sentiment prevails as more smelters cut back

摘要

Negative sulphuric acid prices are now heard around the world, as smelters are keen to move product at any price, in spite of continued relative weakness in the copper market. The deterioration on sulphuric acid spot prices is reflected in this week's Fertilizer Week price assessments. There are even rumours of long-term contracts being fixed on a zero delivered basis. Sentiment was pessimistic among copper producers at the CESCO meeting in Santiago, Chile, with participants saying they do not anticipate any sustained recovery in metal prices, even though LME copper passed the $4,000/mt mark in March.