Barrick’s North American IPO Plan Faces Shareholder Opposition

Today, in North China, spot #1 copper cathode prices against the front-month contract averaged a discount range of 230 yuan/mt to 180 yuan/mt, with an average discount of 205 yuan/mt, down 55 yuan/mt from the previous trading day. The average transaction price was 107,660 yuan/mt, down 540 yuan/mt from the previous trading day.

Affected by typhoon weather, some warehouses in east China experienced difficulties in picking up goods, and cargo withdrawals and transportation were impacted to a certain extent. According to SMM, due to strong winds and rainfall, road traffic efficiency declined in some areas, and cargo pick-up arrangements at warehouses were postponed. Additionally, traffic controls were implemented on the Hangzhou Bay Bridge due to weather conditions, restricting some processing enterprises in Zhejiang from heading to Shanghai to pick up goods. Some enterprises reported that, due to transportation disruptions and increased time costs, they might reduce their cargo pick-up arrangements in Shanghai in the short term and would instead wait for traffic to resume before making purchases.

Aurubis' Bulgarian tankhouse expansion is nearing completion. Once commissioned, the project will increase local refined copper capacity by 50% to around 340,000 t/y. The expansion comes as Aurubis continues investing in both primary smelting and recycling capacity across Europe and the US