China will ban imports of 16 more scrap metal and chemical waste products from December 31, 2018, according to release by the Ministry of Ecology and Environment (MEE) on Wednesday April 19
Operating rates at Chinese copper rod producers jumped to 79.4% in March, up 10.05 percentage points year on year and 31.73 percentage points on the month, SMM survey showed.
Development in cathode materials is likely to drive the development of new-energy cars as cathode materials determine battery performance.
SMM Evening Comments
price review forecast
As tighter supplies and a higher value added tax (VAT) drove up prices of copper scrap, plants turned to refined copper.
Demand for nonferrous metals will surge as new energy vehicles are booming in China, said Lei Hongjun, chief engineer of the Yangtse Automobile Group.
The growth rate of global copper ore output is expected to rise back to 3.3% in 2018, said SMM senior analyst Ye Jianhua.
LME copper prices are set to trade in the range of $6,400-7,800/mt in 2018 while SHFE copper at 49,000-60,000 yuan/mt, according to SMM senior analyst Ye Jianhua.
Join us at SMM’s Asia Metals Seminar during LME Asia week, co-hosted with Hong Kong Exchanges and Clearing Limited (HKEX) and Bloomberg, on Tuesday May 15.
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