[SMM Review] Nonferrous oil fell more than 2 per cent across the board.

Breaking News | SGS Audit Shows Cobre Panama Mine Compliance Rate Near 88%, Obstacles to Production Resumption Further Cleared On June 19, Panama's Ministry of Environment released the final audit report by Switzerland's SGS on First Quantum's Cobre Panama copper mine. The audit covered 370 commitments from 2019 to 2023, with an overall compliance rate of approximately 88%. Technical and operational standards scored the highest (90.20%), followed by environmental compliance. SGS pointed out that issues were concentrated in areas such as biodiversity management, and do not constitute structural deficiencies. According to SMM, maintenance of key equipment at the mine is proceeding normally. If the production resumption permit is granted, production is expected to resume at a relatively fast pace. The mine has been suspended since November 2023, with an annual capacity of approximately 350,000 mt of copper. The Panamanian government has established a cross-departmental working group to evaluate subsequent decisions.

Pekan ini, pasar skrap tembaga beroperasi di bawah pengaruh yang saling terkait dari harga tembaga yang berfluktuasi, libur Festival Perahu Naga yang semakin dekat, dan inspeksi kepatuhan yang sedang berlangsung terhadap "faktur terbalik", menunjukkan karakteristik struktural berupa "divergensi pasokan regional, pengadaan yang didorong oleh permintaan esensial, serta transaksi yang lebih dipengaruhi oleh faktur ketimbang harga".

[Analisis SMM: Harga Tembaga LME Berfluktuasi di Titik Tinggi; Pengadaan Melambat di China, Jepang, dan Korea Selatan di Tengah Omset Pasar yang Lesu]Minggu ini, harga tembaga LME berfluktuasi pada level tinggi. Kuotasi untuk bare bright copper tetap tinggi pada 98,5%–99% pembayaran. Sebaliknya, penawaran untuk scrap material tembaga No. 2 (Birch/Cliff) menunjukkan divergensi yang mencolok. Namun, pasar bahan baku daur ulang global saat ini menunjukkan kemandekan yang ditandai oleh "pasokan dan permintaan yang lemah".