Cyclic Materials Opens First U.S. Commercial Recycling Facility, Recovering Copper from 25,000 t/y

Jintian Copper reported that sales of its high-end green recycled copper products jumped 168% YoY in H1 2026. The company has developed a closed-loop recycled copper chain covering collection, purification and downstream processing, with recycled copper now used across copper strip, wire, busbars, magnet wire and tubes. The sharp increase highlights the growing penetration of recycled feedstock into higher-value copper products rather than only conventional secondary applications.

Southern Copper Corporation reported Q2FY2026 molybdenum production of 7,046 tonnes, down 11.0% YoY, with H1FY2026 output falling 6.7% to 14,562 tonnes. Production declined at all four molybdenum-producing mines, with Toquepala down 21.9%, Cuajone down 1.4%, Buenavista down 12.4% and La Caridad down 3.5%. The company attributed the declines primarily to lower ore grades.

SMM Morning Summary: Overnight, LME copper opened at $14,643/mt, with its center initially dipping to $14,624/mt before drifting higher. Near the end of the session, it touched a high of $14,858.5/mt and ultimately settled at $14,812/mt, up 0.57%. Trading volume reached 20,000 lots, and open interest stood at 271,000 lots, an increase of 4,639 lots from the previous trading day, driven by bullish positioning. Overnight, the most-traded SHFE copper 2610 contract opened at 111,150 yuan/mt, hitting a session low of 111,100 yuan/mt right at the open. Copper prices then moved higher, touching a high of 111,950 yuan/mt near the close, before consolidating in a narrow range at elevated levels to settle at 111,910 yuan/mt, up 0.71%. Trading volume reached 45,500 lots, and open interest stood at 232,000 lots, an increase of 3,238 lots from the previous trading day, driven by bullish positioning.