Jiangxi Copper sees higher prices as it plans to raise output

Jiangxi Copper, China’s largest producer, said it expects prices to rise in the second half once the Federal Reserve cuts interest rates, while pledging to maintain double-digit growth in output despite calls to rein in production. Chinese smelters, including Jiangxi, said earlier this month they would control capacity in response to a tightening in global concentrate supplies following a slew of cutbacks at major mines. That has pushed the industry into cut-throat competition as processing fees on the spot market have fallen to near nothing.