China Copper Smelters to Cut 200,000 Tonnes of Production Q1 2016

Reuters reported that nine large Chinese copper smelters will cut 200,000 tonnes of production in Q1 2016. The move comes in response to continued weak copper prices.
As quoted in the publication:

The amount is equal to about 10 percent of China’s first-quarter refined copper production in 2015.
The plan to limit spot sales adds to an earlier decision by smelters to cut production next year by at least 350,000 tonnes in an effort to support prices that are troughing around six-year lows.

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