2009 December Cu Output Data Analysis -Shanghai Metals Market

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2009 December Cu Output Data Analysis

Data Analysis 11:28:02AM Jan 25, 2010 Source:SMM

SHANGHAI, Jan. 25 (SMM) –

Refined Copper
China's refined copper output was 417.5 kt in December, up 28.10% YoY, and down 0.7% MoM.  Both figures were in line with the operating rates predicted in the last SMM survey, and  SMM further predicts China's refined copper output will remain relatively stable in January.  China's refined copper output in 2009 totaled 4.25 million mt, up 9.60% YoY.  The growth in output of refined copper in China will now accelerate following commission of new copper capacity.

Copper Semis
China's copper semis output was 1.01 million mt in December, up 36.90% YoY, and up 9.6% MoM.  YTD output was 9.8 million mt in 2009, up 22.20% from a year earlier.

Since November 2009, China's monthly copper semis output has exceeded 900 kt mt, and above expectations.   Given normal waning downstream demand in winter, SMM believes the growth in output of copper semis will likely lead to increases in finished product inventories.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

2009 December Cu Output Data Analysis

Data Analysis 11:28:02AM Jan 25, 2010 Source:SMM

SHANGHAI, Jan. 25 (SMM) –

Refined Copper
China's refined copper output was 417.5 kt in December, up 28.10% YoY, and down 0.7% MoM.  Both figures were in line with the operating rates predicted in the last SMM survey, and  SMM further predicts China's refined copper output will remain relatively stable in January.  China's refined copper output in 2009 totaled 4.25 million mt, up 9.60% YoY.  The growth in output of refined copper in China will now accelerate following commission of new copper capacity.

Copper Semis
China's copper semis output was 1.01 million mt in December, up 36.90% YoY, and up 9.6% MoM.  YTD output was 9.8 million mt in 2009, up 22.20% from a year earlier.

Since November 2009, China's monthly copper semis output has exceeded 900 kt mt, and above expectations.   Given normal waning downstream demand in winter, SMM believes the growth in output of copper semis will likely lead to increases in finished product inventories.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn