KGHM Polska Miedź SA registered its core product, i.e. copper cathodes, on the new Shanghai International Energy Exchange (INE). INE is a recognized entity on the global market with 7 warehouses and a total capacity of 215 thousand tones. Most of the global copper producers are under the registration process.

Paweł Gruza, vice president of the management board of KGHM Polska Miedź SA for foreign assets emphasizes that the Chinese market is extremely important for KGHM. Thanks to the registration, it will guarantee recipients the possibility of cooperation with the new exchange using its product. KGHM’s copper cathodes are a proven brand that is popular in the whole world.

Copper cathode is a form of copper with a purity of over 99.9%. At KGHM Polska Miedź SA, they are produced in Głogów and Legnica Copper Smelters. They are characterized by very high quality, already confirmed by certificates issued by the London Metal Exchange and the Futures Exchange in Shanghai.

Copper, as an excellent conductor, is most often used in the production of electric cables, in electrical engineering (profiles, rails) and in construction (e.g. copper pipes).

China is the world’s largest consumer of copper which is used by the local economy as one of the key raw materials for the energy transformation.

The cathodes manufactured by KGHM have been present on the Chinese market for 25 years. Copper sales to China account for approximately 10-15% of the company’s sales revenue. The copper giant is one of the largest Polish exporters to China.

KGHM’s cooperation with the Chinese market is based on long-term contracts with China Minmetals Nonferrous Metals, one of the largest recipients of copper cathodes. The last contract was concluded in 2018 and provides for the delivery of cathodes to China in 2019-2023.

Adrian Andrzejewski