SMM Weekly Price Outlook for Base Metals on LME and SHFE (May 22-26, 2017)

In May 2026, the operating rate of secondary copper rod was 14.7%, higher than expectations of 12.17%, up 1.91 percentage points MoM and down 15.22 percentage points YoY. During May, China's secondary copper rod market as a whole remained caught in a combination of high copper prices, sharp fluctuations, and regulatory compliance pressure. The month was marked not by a one-sided shortage or surplus, but by a more intractable structural stalemate

Australia-based gold-antimony ore company Larvotto Resources is expanding its exposure to copper assets through the acquisition of Hammer Metals, aiming to create a district-scale portfolio in Queensland. Under a binding agreement signed by the two companies on Thursday, Larvotto will acquire 100% of Hammer in an all-stock transaction, issuing one new share for every 22 Hammer shares acquired.

Argentine Mining Minister Lucero Luis said on Thursday that as Argentina implements economic reforms and a new legal framework to attract and support mining projects, the country’s government is poised to become a preferred destination for critical mineral investment.Speaking at a critical minerals event hosted by the US Chamber of Commerce, Lucero said: “Argentina possesses one of the world’s most important critical mineral resource portfolios.” According to S&P Global Market Intelligence, the country holds 85.5 million mt of lithium reserves and resources and 124.3 million mt of copper reserves and resources.