Rising Copper Prices in February Led to Sufficient Copper Scrap Supply

[SMM Shanghai Spot Copper] Looking ahead to next week, spot premiums in the current Shanghai market have risen to near the year’s highs. As premiums have climbed rapidly for several consecutive sessions, downstream acceptance of high-priced cargo has declined somewhat, and the momentum for spot premiums to rise further is expected to weaken. In terms of supply, according to SMM, some non-registered copper that previously had delayed warehousing due to port congestion is expected to arrive at ports gradually next week, providing some replenishment to available cargo in the Shanghai market. Meanwhile, after the spot price spread between Shanghai and surrounding regions widened, the cross-regional arbitrage window has opened, and some out-of-town cargo is in a position to be transferred to Shanghai, which may marginally ease the tight supply pattern going forward. However, after entering September, a new round of procurement cycles is about to begin. Some downstream players and traders have restocking needs at the beginning of the month. Coupled with the fact that Shanghai market inventory and available cargo remain relatively tight, this provides support to spot premiums on the downside. Overall, with stronger expectations for replenishment from imports and cross-regional cargo, high premiums suppressing chase-buying demand, and early-month procurement demand about to be released, Shanghai spot copper prices against the 2609 contract are expected to remain at elevated premiums next week. There is limited room for the premium center to continue rising sharply, and a pull back slightly cannot be ruled out; overall, the market may consolidate at highs.

조선일보에 따르면 북미 에너지저장장치(ESS) 시장 회복과 유럽 전기차(EV) 수요에 힘입어 한국의 3대 배터리 동박 기업인 SK넥실리스, 롯데에너지머티리얼즈, 솔루스첨단소재의 2분기 가동률이 크게 반등했으며, 수주 물량 확대가 수익성 개선에 기여했다. SK넥실리스의 가동률은 1분기 69.6%에서 2분기 75.7%로 상승했고, 분기 매출은 2,540억 원으로 사상 최고치를 기록했다. 롯데에너지머티리얼즈의 가동률은 66.6%에서 72.1%로 올랐으며, 2분기 매출은 194억 2,000만 원으로 전월 대비 21% 증가했다. 솔루스첨단소재 헝가리 공장의 가동률은 47%에서 67%로 높아졌고, 동박 부문 2분기 매출은 75억 원으로 전월 대비 22% 늘었다. 3개 동박 업체는 하반기 공장 가동률이 추가로 상승할 것으로 전망했다. 미국 AMPC 정책의 제약 속에서 수출 주문이 한국 기업으로 계속 이동하고 있으며, 한국은 중국을 제외하고 대규모 배터리 동박 생산능력을 보유한 유일한 지역으로 자리 잡았다