[Cu Price] SMM Copper Market Morning Review (2015-7-27)

Published: Jul 27, 2015 09:40 (GMT+8)

Save

LME copper prices fell during Asian hours last Friday but regained some losses during European and US hours, to end up USD 12/mt at USD 5,268/mt.

SHANGHAI, Jul. 27 (SMM) – LME copper prices fell during Asian hours last Friday but regained some losses during European and US hours, to end up USD 12/mt at USD 5,268/mt.

The China manufacturing PMI released by Caixin.com and Markit fell to a 15-momth low of 48.2, dealing a blow to copper prices last Friday.

US data were mixed, and the US dollar index hovered at highs. Crude oil prices continued to fall on Friday due to weak fundamentals.

SHFE 1510 copper contract opened at RMB 38,040/mt Friday night and moved between RMB 37,800-38,530/mt before ending at RMB 38,300/mt, rising by RMB 180/mt. Positions declined 7,866 and trading volumes were about 140,000 lots.

SHFE 1510 copper contract prices are expected to move at RMB 37,800-38,500/mt on July 27. Spot copper will be offered at premiums of RMB 350-420/mt to SHFE 1508 copper contract.

Cu price SHFE copper prices LME copper prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

【Flash | Armenia’s Molybdenum Concentrate Output Rises as Ferromolybdenum Production Slumps】

Armenia’s Statistical Committee reported Jan–Jul 2026 molybdenum concentrate output of 10,403.5 tonnes, up 25.2% YoY, while ferromolybdenum production fell 47.4% to 907.2 tonnes. SMM calculates that July concentrate output was about 1,517.5 tonnes, up 22.4% YoY, while ferromolybdenum output declined 27.1% to about 176.0 tonnes. The figures show a widening divergence between upstream concentrate and ferromolybdenum production. Concentrate tonnage represents product mass, not contained molybdenum.

1 hour ago

MMG sanctions $900m Khoemacau expansion to 130,000 tpa copper

MMG has sanctioned a roughly $900 million expansion of its Khoemacau copper mine in Botswana's Kalahari Copper Belt, including pre-2026 expenditure. The project lifts capacity to about 130,000 tonnes of copper in concentrate per year with over 4 million ounces of silver, via a new 4.5 Mtpa processing plant and three underground mines at Zone 5 North, Mango and Zeta North-East. Total milling capacity exceeds 8.0 Mtpa. 2026 guidance is 48,000 - 53,000 tonnes of copper in concentrate, first concentrate is targeted in the first half of 2028. Life-of-mine average C1 cash costs are forecast below $1.60/lb, down from $2.05/lb in mid-2025.

1 hour ago

Glencore named founding partner in US strategic minerals reserve

Glencore has been selected by the US government as a founding partner in VaultCo, a strategic critical-minerals reserve designed to strengthen US supply chains. Backed by the Export-Import Bank of the United States (EXIM), the initiative pairs EXIM financing of up to $10 billion with nearly $2 billion in private capital. Under the public-private model, Glencore will source, procure and deliver critical minerals and base metals to build strategic US inventories, supported by a $500 million EXIM commitment to Glencore. The program aims to reduce US exposure to supply disruptions.

1 hour ago