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Mitsubishi Materials Navigates a Steady Path: Forecasting Flat H2 Copper Output Amidst Maintenance

  • Nishadil
  • October 01, 2025
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Mitsubishi Materials Navigates a Steady Path: Forecasting Flat H2 Copper Output Amidst Maintenance

Japanese industrial powerhouse Mitsubishi Materials has announced its projections for refined copper output in the second half of the current fiscal year, forecasting a largely flat trajectory compared to the previous year. This outlook comes as the global market for copper remains robust, driven by surging demand from electric vehicles, renewable energy infrastructure, and other burgeoning industries.

For the period spanning October 2023 to March 2024 (the second half of its financial year), Mitsubishi Materials anticipates producing approximately 200,000 tonnes of refined copper.

This figure is remarkably consistent with the 200,094 tonnes achieved in the corresponding period of the prior fiscal year, highlighting a strategic stability in its production planning.

The primary factor contributing to this flat forecast is the planned maintenance at its highly significant Naoshima smelter.

The company has scheduled a crucial 30-40 day maintenance shutdown for the facility, beginning in January. Such routine maintenance is vital for ensuring the long-term efficiency and operational integrity of the smelter, which plays a pivotal role in Mitsubishi Materials' overall copper production capabilities.

Beyond this major event, other operational adjustments are also contributing to the moderated output projection.

Despite the static forecast for the latter half of the fiscal year, Mitsubishi Materials has reported a strong performance in the first half (April to September 2023). During this period, the company's refined copper output surged by a notable 15.6% year-on-year, reaching 261,388 tonnes.

This robust initial performance underscores the company's capacity to ramp up production when conditions allow, benefiting from sustained market demand.

However, taking into account the planned maintenance and the second-half forecast, Mitsubishi Materials has adjusted its full-year output projection for the fiscal year ending March 2024.

The revised forecast now stands at 461,388 tonnes, a slight decrease from its initial target of 480,000 tonnes. Nevertheless, even with this revision, the anticipated full-year output represents a healthy 2.7% increase from the 449,178 tonnes produced in the previous fiscal year, demonstrating a modest but significant growth trajectory for the company.

The global copper market continues to be a dynamic landscape.

While prices have seen fluctuations—currently hovering around $8,359.50 per tonne on the London Metal Exchange, a dip from their peak of over $10,800 in March 2022—the fundamental demand drivers remain strong. Mitsubishi Materials, as a key player, navigates these market conditions with a clear focus on operational efficiency and strategic maintenance, balancing immediate output with long-term sustainability.

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