This week, the "SMM Copper Industry chain Weekly report" was released, and the editor selected hot topics, prices, quotations or major changes in the industry chain and published articles for your reference. Welcome to subscribe to the "SMM Copper Industry chain Weekly report" to learn more.
The following is an excerpt from the weekly report of SMM copper industry chain:
Geopolitics was the main theme of market transactions in February. European and American countries imposed sanctions on Russia in February, which led to a certain energy shortage crisis in the world, especially in Europe. European natural gas and crude oil prices rose rapidly. The energy shock brought about a rise in metal port costs and once again exacerbated market inflation expectations, allowing commodities to rise collectively, while non-ferrous commodities rose collectively under the pressure of Lenny, and Lun Copper hit a new high. The future war between Russia and Ukraine will still influence the trend of copper prices.
Judging from the domestic situation, the pace of resumption of production of domestic smelters in February is relatively stable, with an output of 835700 tons in February, an increase compared with Synchronize; from the smelter plan in March, the northern smelter will gradually recover from the interference caused by the Winter Olympic Games. Although some smelters will gradually begin to enter the state of maintenance in late March, the loose supply of crude copper in the market has little impact on the output of electrolytic copper. Domestic production of electrolytic copper is expected to be 865900 tons in March, an increase of 3.6 per cent from the previous month and 0.6 per cent year-on-year.
Demand continues to be difficult to improve after returning from the Spring Festival. Under high copper prices, both real estate and national grid power investment have obviously not entered the peak season of consumption, and the long logic of the market is still struggling to support under low inventory.
"View SMM Metal spot Historical Price
"apply for free access to the SMM metal industry chain database
"SMM China Copper Industry chain High-end report" includes: copper industry chain market changes, future views, monthly updates and interpretation of hot events, quantitative analysis of copper industry chain upstream and downstream output, import and export, inventory, cost, price and so on. And exclusively publish the monthly output data, operating rate and new items of the top ten copper smelting or processing enterprises in China. "View details
The "SMM China Copper Industry chain routine report" includes changes in exclusive data markets from copper mines, smelters to copper processing materials, spot to futures markets, future views, and weekly updates of hot events, focusing on contradictions that have changed greatly during the week. "View details
![This week, copper social inventories in major regions of China continued destocking [SMM weekly data].](https://imgqn.smm.cn/usercenter/XBbTq20251217171709.jpg)
![Macro Factors Weigh on Copper Prices, SHFE Copper Inter-Month Spread Occasionally Sees Backwardation Structure [SMM Shanghai Spot Copper]](https://imgqn.smm.cn/usercenter/CJXfS20251217171710.jpg)
