SMM Price Outlook for Base Metals on SHFE (Jun. 2, 2017)

This week, the secondary copper rod market operated against the backdrop of copper prices fluctuating at highs above the 100,000 yuan mark, with all segments of the industry chain struggling to find balance amid policy constraints and price negotiations. The market overall exhibited complex characteristics of "marginal recovery on the production side, price pressure on the raw material side...

North Copper (000737) disclosed its annual report on April 24. In 2025, the company achieved revenue of 27.916 billion yuan, up 15.80% YoY; net profit attributable to the parent company was 791 million yuan, up 29.01% YoY; basic earnings per share were 0.415 yuan. The company proposed a cash dividend of 1.4 yuan per 10 shares (tax inclusive). During the reporting period, the company's main mines maintained stable production, but copper concentrates supply was tight in the market, and copper smelting TC remained subdued.

Pengxin Resources (600490) disclosed its annual report on April 24. In 2025, the company achieved revenue of 3.411 billion yuan, up 81.94% YoY; net profit attributable to the parent company was 225 million yuan, compared with a loss of 96.7716 million yuan in the prior year; basic earnings per share were 0.1019 yuan. The company proposed a cash dividend of 0.31 yuan per 10 shares (tax inclusive). During the reporting period, the company achieved continuous breakthroughs in its South Africa gold mine project, maintained stable production and improved efficiency at its DRC project, advanced new trade business models, and accelerated industrial expansion in and outside China, increasing mineral resource reserves and enhancing the company's overall competitiveness.