SMM7 March 3: according to SMM, the CSPT group held the latest third-quarter Floor price meeting online this morning, and confirmed that the third-quarter TC/RC floor price is 53 US dollars / ton and 5.3 cents / lb, and the SMM June copper concentrate index is 51.71 US dollars / ton.
Due to the great uncertainty of epidemic factors in the second quarter, the floor price was not determined at the quarterly meeting of the group, while the floor price determined in the third quarter was much lower than the US $67 / ton in the first quarter, objectively reflecting the tightening trend in the supply of imported copper concentrates. at the same time, the raw material supply situation in the second half of the year is still very grim.
According to SMM's previous statistics on the supply-side recovery, most of them have recovered, but the process is slow. According to SMM, this week's TC is at 51.37 US dollars / ton, and the focus of the game continues to revolve around the low position of 50 US dollars / tonne. The market is still worried about the prospect of copper production in Chile and Peru, the seller is worried about the uncertainty of subsequent shipments, and the supply of goods in the spot market is still tight.
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Earlier, all smelting operations at the Chuquicamata mine of Chile, the world's leading copper producer, were suspended. In addition, BHP Billiton said it would significantly reduce the operation of Chile's Cerro Colorado copper mine-a decision that means gradually reducing the number of workers in the mine in response to the country's new outbreak of coronary pneumonia. Although the Cerro Colorado mine is short-lived and not a large mine, the news has raised concerns about whether Chile, the world's largest copper producer, can maintain high production as the new crown virus spreads.
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