CSPT holds first quarter 2020 meeting

Published: Apr 08, 2020 17:33 (GMT+8)

SMM: according to SMM, on the morning of April 8, members of the CSPT team held a meeting in the first quarter of 2020. Due to the impact of the epidemic, the meeting temporarily decided to be held online, and the meeting discussed the copper market in the near future and the second quarter.

Recently, copper raw material end interference, according to SMM, as of Friday, the SMM copper concentrate index (week) at $62.50 / ton, down $2.82 / ton from the previous month. The seller is still worried about the source of the goods in hand, if the second quarter spot contract may expire, there is a risk of non-shipment, so there is little offer in the market, and the spot TC of copper concentrate continues to decline under the pressure of tight supply. On the other hand, the buyer's willingness to inquire in this case is also significantly weakened. Overall, the market was quiet last week, with both sides in a wait-and-see state.

"apply for free access to the SMM metal industry chain database

In terms of copper scrap, the average price difference between fine and waste last week was-34 yuan / ton, narrowing 172 yuan / ton from the previous month. According to SMM, the trade volume of some large copper scrap trading enterprises in March was about 60% lower than in the normal period. In addition, the haze of the epidemic abroad continues, the Malaysian government announced that the action control order will be extended to mid-April, the start of local copper scrap dismantling enterprises and exports will continue to be delayed. Malaysia, as the largest copper importer in China, if unable to export for a long time will aggravate the problem of copper scrap tightening in China. Vietnam, Indonesia and other Southeast Asian countries have tightened their controls one after another, and the specific impact needs to be continuously paid attention to.

"apply for free access to the SMM metal industry chain database

"Click to participate in the second China (Yingtan) Copper Industry Summit and the 15th China International Copper Industry chain Summit."

To sign up for the summit or apply to enter the SMM industry exchange group, please scan the code:

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
【Flash | US July Molybdenum Shipments Outpace Production as Output Rises YoY】
25 mins ago
【Flash | US July Molybdenum Shipments Outpace Production as Output Rises YoY】
Read More
【Flash | US July Molybdenum Shipments Outpace Production as Output Rises YoY】
【Flash | US July Molybdenum Shipments Outpace Production as Output Rises YoY】
USGS reported US molybdenum concentrate production of 3,390 tonnes of contained molybdenum in July 2026, down 2.6% MoM but up 6.3% YoY. Jan–Jul output totaled 24,300 tonnes, up about 4.2% based on monthly data. July shipments reached 3,730 tonnes, up 4.8% MoM and 17.7% YoY, while YTD shipments rose about 5.7% to 24,600 tonnes. Shipments exceeded monthly output by about 340 tonnes. USGS notes that shipments include domestic sales, exports and transfers to company plants, while some Freeport-McMoRan data are monthly estimates derived from quarterly or annual disclosures.
25 mins ago
Panama Panel Backs Conditional Cobre Panamá Restart to Fund Eventual Closure
1 hour ago
Panama Panel Backs Conditional Cobre Panamá Restart to Fund Eventual Closure
Read More
Panama Panel Backs Conditional Cobre Panamá Restart to Fund Eventual Closure
Panama Panel Backs Conditional Cobre Panamá Restart to Fund Eventual Closure
A Panamanian ministerial commission has recommended opening formal negotiations with First Quantum Minerals over a potential restart of Cobre Panamá. Under the proposal, the mine could resume operations without expanding its footprint, with operating revenue funding rehabilitation, long-term monitoring and an eventual orderly closure at no cost to the state. Any agreement would require all pending international arbitration claims to be terminated and could not be extended. The report did not specify the scale or duration of a restart. Cobre Panamá previously accounted for around 1% of global copper production. Until an agreement and timetable are confirmed, the near-term impact on copper concentrate supply remains limited.
1 hour ago
Escondida supervisors vote 95% to authorise strike; talks enter mandatory mediation
1 hour ago
Escondida supervisors vote 95% to authorise strike; talks enter mandatory mediation
Read More
Escondida supervisors vote 95% to authorise strike; talks enter mandatory mediation
Escondida supervisors vote 95% to authorise strike; talks enter mandatory mediation
Sindicato N°2 de Supervisores y Staff at BHP's Escondida copper mine in Chile rejected the company's final wage offer, with 95% voting to authorise strike action. The union of about 1,020 supervisors objected to limited pay improvements, multi-tasking requirements and a proposed 14x14 shift rotation. Chilean law now mandates at least five days of government mediation, extendable by five more, before any legal walkout. The mine produced 1.26 million tonnes in fiscal 2026, down 3% year on year, with fiscal 2027 guidance of 1.0-1.1 million tonnes. Production is currently unaffected, but the vote compounds supply risk after a fatal accident halted operations in late September.
1 hour ago