Global Refined Copper Production Rises as Market Surplus Widens in 2025

True North Copper has secured firm commitments for an A$18 million placement and plans to raise another A$2 million through an SPP. Around A$7.5 million will fund the final deferred payment for the Mt Oxide acquisition, while additional proceeds will support drilling and technical work at the Aquila copper-cobalt-silver discovery through 2027. Mt Oxide currently hosts approximately 220,000 tonnes of contained copper resources.

Modern Mining is moving to commercialize its U.S. e-waste processing technology and expand a regional recycling network centered on North Carolina. Its process concentrates electronic scrap before using aqueous purification to recover metals including copper, gold, silver and palladium. The company has previously outlined a target of adding roughly one regional pre-concentration facility per year over four years, feeding centralized purification capacity in North Carolina. No new capacity figure or firm commissioning date was disclosed.

SMM Morning Meeting Minutes: Last Friday night, LME copper opened at $14,108.5/mt and dipped to $14,099.5/mt early in the session. Copper prices then drifted higher, with the center rising to $14,196/mt, and finally closed at $14,172.5/mt, up 0.26%. Trading volume reached 13,000 lots, and open interest stood at 269,000 lots, an increase of 3,237 lots from the previous trading day, indicating bulls added positions. Last Friday night, the most-traded SHFE copper 2609 contract opened at 107,920 yuan/mt and fell to 107,650 yuan/mt early in the session. The center of copper prices then moved up sharply to a high of 108,320 yuan/mt, after which it stayed high and moved sideways within a narrow range, and finally closed at 108,200 yuan/mt, up 0.49%. Trading volume reached 26,000 lots, and open interest stood at 204,000 lots, down 815 lots from the previous trading day, indicating bulls reduced positions.