By Yuka Obayashi and Kentaro Okasaka

TOKYO (Reuters) -JX Advanced Metals will likely cut copper production by tens of thousands of metric tons in fiscal 2025 from earlier plans and unveil a roadmap to scale down smelting capacity by March, President Yoichi Hayashi said, as shrinking fees erode margins.

Japanese copper smelters are grappling with tumbling treatment and refining charges (TC/RCs) and shrinking smelting margins due to a shortage of concentrate supply and growing smelting capacity in China. In June, some Chinese smelters agreed to process copper for Chilean miner Antofagasta at no charge, a record low.

“In the short term, we plan to slash annual electrolytic copper output by several tens of thousands of tons from our earlier estimate as we can’t purchase concentrates under c

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