Glencore Copper Output Slide in First Quarter, Leaves Target untouched in 2017

Published: May 5, 2017 10:03

Save

Glencore’s copper production slid 3% in the first quarter of 2017 to 324,000 tonnes, according to its Q1 earnings report.

SHANGHAI, May 5 (SMM) - Glencore’s copper production slid 3% in the first quarter of 2017 to 324,000 tonnes, according to its Q1 earnings report.

Production at its Alumbrera mines dropped remarkably affected by ore grade.

Growth at Mutanda and Antamina was constrained by the adverse weather.

Mexico Releases Major Metals Output in February, Copper Output Rose 13.3%

Chile Copper Output Slid 23% in March after Escondida Hurt by Strike

The company leaves its copper output target at 1.35 million tonnes for 2017.

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.

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

Glencore copper ore output copper mine Mopani Copper Mines

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

The SHFE/LME Price Ratio Rebounded Somewhat, While Market Wait-and-See Sentiment Remained Undiminished; Buyers and Sellers Continued to Tug of War [SMM Yangshan Copper Premiums]

1 hour ago

Copper Prices Fall as Consumption Sees a Slight Uptick; Shanghai Spot Copper Premiums Stabilize at Highs [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, SHFE copper’s absolute prices continued to pull back during the day, prompting some downstream buyers to restock on dips and releasing purchase demand from traders. Market transactions improved markedly compared with yesterday. Standard-quality copper traded relatively smoothly around a premium of 350 yuan/mt, providing some support below spot premiums. Overall, with the pullback in copper prices driving the release of rigid demand and the backwardation structure providing support, but elevated premiums limiting a further rush to buy amid continuous price rise, Shanghai spot copper prices against the 2609 contract are expected to remain at a premium tomorrow, with the overall center likely to consolidate around current levels.

1 hour ago

Futures Came Under Significant Pressure and Pulled Back, While the Spot Price Spread Rebounded Sharply [SMM North China Spot Copper]

Today, in North China, spot prices against the front-month contract for #1 copper cathode were quoted at an average premium of 50 yuan/mt to a premium of 250 yuan/mt. The average premium of 150 yuan/mt increased by 320 yuan/mt from the previous trading day, while the average transaction price of 107,805 yuan/mt decreased by 1,690 yuan/mt from the previous trading day;

1 hour ago