[SMM Review] explore the Story behind refined Copper production in the first half of the year: new expansion of production capacity and Refinery maintenance

SMM, July 10: SMM released the latest data on China's refined copper production on Friday. in June 2018, SMM's China refined copper production was 722500 tons, down 3.32 percent from the previous month, an increase of 10.47 percent over the same period last year, and a cumulative output of 4.3261 million tons in the first half of the year. The cumulative increase was 12.9 percent over the same period last year.

As can be seen from the figure, China's monthly output of refined copper remained in the range of 70-750000 tons in the first half of the year, maintained an upward trend from January to May, and fell back in June. SMM counted the main monthly expansion of new capacity in the first half of this year and the overhaul of refineries, turning over the story behind refined copper production in the first half of the year month by month.

Refined copper production was 4.3261 million tons in the first half of 2018, an increase of 12.9 percent over the same period last year, due to the increase in the release of new capacity from the new expansion of several large smelters, as well as a sharp reduction in maintenance during the year. In addition, under the hindrance of the import of waste copper, refined copper has replaced part of the consumption of waste copper is also one of the reasons.

According to the July production schedule of the refineries, Jinchuan Group, Fuye Group, Minmetals Copper Industry and Zhangjiagang Joint Copper Industry plan to reduce production, and China's refined copper production will further decline in July. SMM expects China's refined copper production to be 712800 tonnes in July, up 12.61 per cent from a year earlier, with cumulative production of 5.0389 million tonnes in the January-July period, up 12.8 per cent from a year earlier.

The SMM Copper Research Group has been working closely with major smelters for a long time to arrive at accurate monthly SMM monthly copper production data through research and summary calculations, and to predict production data for next month in advance. SMM will explain in detail the reasons behind the data changes in weekly and monthly reports. "Application for trial reading of the SMM report