Closer Sino-Mongolia Link to Benefit China’s Copper Conc. Imports from Mongolia, SMM Foresees-Shanghai Metals Market

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Closer Sino-Mongolia Link to Benefit China’s Copper Conc. Imports from Mongolia, SMM Foresees

Industry News 12:29:46AM Aug 25, 2014 Source:SMM

SHANGHAI, Aug. 25 (SMM) – A closer tie between China and Mongolia is expected to benefit their bilateral trades, which will have a buoyant effect on copper concentrate trades, Shanghai Metals Market believes.

Chinese President Xi Jinping signed a joint declaration with Mongolian President, Tsakhiagiin Elbegdorj, during his visit to Mongolia Aug. 21-22, 2014, to upgrade bilateral ties to a comprehensive strategic partnership. SMM prediction is this closer relationship will bode well for cooperation in mining and mineral processing areas between the two countries.

China mainly imports copper concentrate and zinc concentrate from Mongolia, SMM learns, as detailed below:

 

Imports from Mongolia (tonne)

Total Imports (tonne)

Jul. 2014

YoY (%)

Jan.-Jul. 2014

YoY (%)

Jul. 2014

YoY (%)

Jan.-Jul. 2014

YoY (%)

Copper Concentrate

108,268

124.17

461,366

56.55

901,144

-3.91

6,331,459

17.32

Zinc Concentrate

2,517

11.32

13,975

-80.99

165,599

-15.09

1,107,214

-6.43

Sources: SMM, China Customs

Customs data indicate a 124.17% year-on-year growth in China’s copper concentrate imports from Mongolia in July, to 108,268 tonnes, making it the third largest supplier during the month. The country exported 461,366 tonnes of copper concentrate to China during the first seven months, climbing 56.55%, and ranking the fifth among all supplying nations.

Rio Tinto’s Oyu Tolgoi mine in Mongolia which has entered service for one year, will sell a large majority of its concentrate to north China copper smelters due to the proximity to China. Rio Tinto’s report shows grades at of copper ore from the Oyu Tolgoi mine are 0.8-0.9%.

However, the ongoing negotiation on taxation between Rio Tinto and Mongolian governments limited copper concentrate shipments from the mine.

SMM also sees slim chance of any sharp rise in TC/RCs for copper concentrate from Mongolia, since the high grades of concentrates from the country’s two large copper mine in operation mean the mines are unlikely to budge on prices.  


For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

Closer Sino-Mongolia Link to Benefit China’s Copper Conc. Imports from Mongolia, SMM Foresees

Industry News 12:29:46AM Aug 25, 2014 Source:SMM

SHANGHAI, Aug. 25 (SMM) – A closer tie between China and Mongolia is expected to benefit their bilateral trades, which will have a buoyant effect on copper concentrate trades, Shanghai Metals Market believes.

Chinese President Xi Jinping signed a joint declaration with Mongolian President, Tsakhiagiin Elbegdorj, during his visit to Mongolia Aug. 21-22, 2014, to upgrade bilateral ties to a comprehensive strategic partnership. SMM prediction is this closer relationship will bode well for cooperation in mining and mineral processing areas between the two countries.

China mainly imports copper concentrate and zinc concentrate from Mongolia, SMM learns, as detailed below:

 

Imports from Mongolia (tonne)

Total Imports (tonne)

Jul. 2014

YoY (%)

Jan.-Jul. 2014

YoY (%)

Jul. 2014

YoY (%)

Jan.-Jul. 2014

YoY (%)

Copper Concentrate

108,268

124.17

461,366

56.55

901,144

-3.91

6,331,459

17.32

Zinc Concentrate

2,517

11.32

13,975

-80.99

165,599

-15.09

1,107,214

-6.43

Sources: SMM, China Customs

Customs data indicate a 124.17% year-on-year growth in China’s copper concentrate imports from Mongolia in July, to 108,268 tonnes, making it the third largest supplier during the month. The country exported 461,366 tonnes of copper concentrate to China during the first seven months, climbing 56.55%, and ranking the fifth among all supplying nations.

Rio Tinto’s Oyu Tolgoi mine in Mongolia which has entered service for one year, will sell a large majority of its concentrate to north China copper smelters due to the proximity to China. Rio Tinto’s report shows grades at of copper ore from the Oyu Tolgoi mine are 0.8-0.9%.

However, the ongoing negotiation on taxation between Rio Tinto and Mongolian governments limited copper concentrate shipments from the mine.

SMM also sees slim chance of any sharp rise in TC/RCs for copper concentrate from Mongolia, since the high grades of concentrates from the country’s two large copper mine in operation mean the mines are unlikely to budge on prices.  


For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.