Major Export and Import Countries and Regions for Copper Foil in June 2026

[SMM Shanghai Spot Copper] Affected by the persistently low social inventory in Shanghai, available spot copper cathode in the market was tight, providing strong support to spot premiums. Intraday, copper prices edged up, the backwardation structure of the nearby months narrowed to 140-170 yuan/mt, and suppliers showed strong sentiment in holding prices firm and holding back from selling. Intraday, standard-quality copper was offered at premiums around 450-480 yuan/mt, up about 40 yuan/mt from yesterday. Downstream enterprises had limited acceptance of cargoes at premiums around 450 yuan/mt, with procurement still mainly driven by rigid demand, and mostly bargained down to premiums near 420 yuan/mt; however, traders were still trading on expectations of tight available cargo, with cargo circulation relatively active and purchasing enthusiasm remaining at a high level.

South32 reported payable copper production of 16,000 tonnes from its 45% interest in the Sierra Gorda mine in Chile for the quarter ended June 30, down 9.6% year-on-year and below market expectations of 17,500 tonnes. Mining operations at the project continued to be affected by heavy rainfall, which had previously disrupted access to mining areas and temporarily suspended processing operations. The company also expects Sierra Gorda's FY2027 operating unit costs to be about 10% higher than FY2026 guidance due to a previously announced one-off workforce payment and higher diesel prices. In addition, the joint venture recently approved a fourth grinding line expansion, with approximately US$725 million of growth capital expenditure planned between 2027 and 2030 to increase processing capacity by around 25%.

Awalé Resources has reported new drilling results from its Newmont-backed Odienné gold-copper project in Côte d'Ivoire, confirming that the high-grade core of the BBM deposit extends beneath the existing open-pit resource, highlighting underground development potential. Drill hole BBDD-31 intersected 7 metres grading 7.04 g/t gold and 0.16% copper from 385 metres depth, while hole BBDD-30 returned 46 metres grading 1.93 g/t gold and 0.39% copper. The company said the results are the first from a 12-hole deep drilling program targeting mineralization beneath the BBM deposit. Odienné currently hosts an inferred resource of 32.4 million tonnes grading 1.33 g/t gold and 0.33% copper, containing approximately 1.4 million ounces of gold and 93,000 tonnes of copper. Exploration is managed by Awalé under a joint venture funded by Newmont.