Débil demanda de uso final, se espera que la tasa de operación de tochos de latón disminuya aún más.

[SMM Analysis: H1 2026 Secondary Copper Rod Market Semi-Annual Report: Compliance Reshapes Pricing Logic, Supply-Demand Standoff Throughout] In H1 2026, the secondary copper rod market completely broke away from the traditional pricing framework of "copper prices – supply and demand." It was primarily impacted by the dual policy shocks of "reverse invoicing" moving from transitional verification to full implementation and the clearance of local irregular fiscal and tax incentives (Document No. 770), coupled with wide fluctuations as the most-traded SHFE copper contract retreated from the record high of 113,800 yuan/mt at the start of the year and consistently held the threshold of 100,000 yuan/mt in mid-year. The entire industry found itself in a deep stalemate characterized by "policies setting the structure, invoices locking in transactions, and copper prices setting the pace," with the operating rate plunging sharply YoY, and enterprises generally walking a tightrope between compliance pressure and weak demand.....

Zijin Mining (601899) publicó una previsión de resultados el 9 de julio, proyectando un beneficio neto atribuible a los accionistas para el primer semestre de 2026 de aproximadamente 39.100 millones de yuanes, un incremento interanual cercano al 68 %. Durante el periodo de referencia, los precios de venta de los productos de la empresa aumentaron significativamente en términos interanuales y los beneficios de productos como metales raros y preciosos (molibdeno, tungsteno, estaño), concentrados de azufre y ácido sulfúrico se incrementaron notablemente respecto al año anterior.