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SMM Exclusive: China October Metal Production Report (October Review & November Forecast)
Nov 12, 2024 11:48
In October, SMM China's copper cathode production decreased by 8,600 mt MoM, a decline of 0.86%, but increased by 0.19% YoY, and exceeded expectations by 2,200 mt.
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Nov 13, 2024 09:12
China's Copper Cathode & Secondary Copper Rods Both Weak: What's Happening in the Market?
The "September-October peak season," traditionally a peak season for copper rods, has shown weak consumption this year. The peak season is not as strong as expected, with new orders hard to sustain. This lack of significant consumption recovery is not only seen in the copper cathode rod industry but also in the secondary copper rod industry. Recently, the market has shown weakness in both copper cathode rods and secondary copper rods. What are the reasons behind this? Below is a detailed analysis of the recent market situation:
Oct 25, 2024 09:41
August saw a higher-than-expected increase in the operating rate of copper cathode rods in China. Can the traditional peak season in September continue to meet optimistic expectations? [SMM Analysis]
[SMM Analysis: August Copper Cathode Rod Operating Rate Exceeds Expectations, Will the Positive Trend Continue in September, the Traditional Peak Season?] According to the SMM survey, the operating rate of copper cathode rod producers was 74.62% in August, up 4.10% MoM and 4.16% YoY, exceeding the expected value by 1.90%. The operating rate for large enterprises was 82.64%, for medium-sized enterprises 62.08%, and for small enterprises 62.39%. (Surveyed enterprises: 61, capacity: 13.877 million mt)
Sep 9, 2024 11:06
![August saw a higher-than-expected increase in the operating rate of copper cathode rods in China. Can the traditional peak season in September continue to meet optimistic expectations? [SMM Analysis]](https://imgqn.smm.cn/production/admin/votes/imagesiqWEj20240311161746.jpeg)
SMM Daily Comments (Jul 3): SHFE Base Metals Rose across the Board with Tin Surging, Ferrous Metals Prices Closed Mixed
Crude oil futures closed lower today. As of 15:04 CST today, WTI oil and Brent oil fell 0.37% and 0.32% respectively. As of 15:05 today, the U.S. dollar index rose 0.22%.
Jul 7, 2023 18:21
Central Banks Hawkish Language Continue To Weigh On Copper Prices
Stronger-than-expected economic data released last week, including new home sales in May, durable goods orders in May and the consumer confidence index in June in the US pointed to a strong US economy. Powell said at the ECB Forum on Central Banking last Wednesday that there may be several interest rate hikes in the future in the midst of strong economic data, and another aggressive interest rate hike to curb inflation is not ruled out.
Jul 3, 2023 17:41
SMM Review Of Spot Copper Market In Shanghai Last Week
Spot premiums fell initially and then rose last week. In the first half of the week, market participants focused on stock liquidation due to the month-end and mid-year settlement, lowering spot premiums. On Tuesday last week, SMM spot premiums of #1 copper cathode averaged 200 yuan/mt against next-month invoices. In the second half of the week, sellers raised their quotes and spot premiums exceeded 300 yuan/mt against next-month invoices.
Jul 3, 2023 17:41
Import Losses Continued To Narrow, Yangshan Copper Premiums Seen Rising
Yangshan copper premiums with a quotation period in July stood at $42-57/mt under warrants during June 26-30, with the average up $3.4/mt from June 21. Those stood between $41-57/mt under bill of lading with a quotation period in July, with the average up $2.6/mt. As of June 30, the SHFE/LME copper price ratio stood at 8.29, and import losses stood at 233 yuan/mt against the SHFE July copper contract.
Jul 3, 2023 17:37
Antofagasta and Chinese Smelters Finalised Spot Copper Concentrate Tcs Under Long-Term Contracts For 2024
SMM understood that Antofagasta and Chinese smelters finalised Cu 50% copper concentrate TC/RCs under long-term contracts for 2024 at $88/mt and $0.088/mt, up $12/mt and $0.012/mt respectively, from those 2022.
Jul 3, 2023 17:37
Several Factors Will Pressure Copper Concentrate Spot TCs In Second Half Of 2023
As of Friday June 30, the SMM Imported Copper Concentrate Index (weekly) stood at $91.53/mt, $0.43/mt higher than June 21. During the week, spot trades of copper concentrate cooled down. SMM learned that one smelter and a trader traded 10,000 mt of clean ore scheduled for August with TCs of $90/mt.
Jul 3, 2023 17:36
Disruptions from Chile Floods on copper mine were Weaker than Expected
Codelco's Andina Copper Mine (with output of 177,000 mt of copper content in 2022) resumed production after a brief outage caused by the floods in Chile. The key infrastructure equipment of the mine was not affected, though some roads in the mining area were washed away.
Jul 3, 2023 17:35
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