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[SMM Weekly selected] Peruvian Copper Mine Transportation blocked follow-up Copper Mine supply caused concern
Jul 25,2020 10:33CST
translation
Source:SMM
As of Friday, the SMM copper concentrate index (week) was at US $49.85 per tonne, down US $0.050 per tonne from the previous week. [SMM Weekly selection: follow-up copper supply concerns] as of Friday, the SMM copper concentrate index (week) was at US $49.85 per tonne. Due to the possible deterioration of copper concentrate supply in Chile and Peru in the future, some traders are pessimistic about the follow-up supply and offer is lower than last week. However, most refineries are unwilling to accept the price below US $50 / ton of TC, so the spot market shows a stalemate. On the other hand, at present, the supply of negotiable goods in the market is also less, so the turnover in the copper concentrate market continues to be light this week.
The content below was translated by Tencent automatically for reference.

This week, "SMM Copper Industry chain Weekly report" was released, and the editor selected hot topics, prices, market or major changes in the industry chain and published articles for your reference.

SMM7 March 25: as of Friday, the SMM copper concentrate index (week) was at $49.85 / ton, down $0.050 / ton from last week. Due to the possible deterioration of copper concentrate supply in Chile and Peru in the future, some traders are pessimistic about the follow-up supply and offer is lower than last week. However, most refineries are unwilling to accept the price below US $50 / ton of TC, so the spot market shows a stalemate. On the other hand, at present, the supply of negotiable goods in the market is also less, so the turnover in the copper concentrate market continues to be light this week.

On the news side, the market focus is still focused on the supply interference of copper mines in South America. Workers at Antofagasta and its Zaldivar copper mine decided on July 22nd to extend government-mediated negotiations on new union contracts to avoid a strike, but did not give a specific time frame; Centinela, another Antofagasta mine, is also in the process of government mediation to avoid a strike plan voted by supervisors. Separately, a convoy of the Las Bambas copper mine was attacked this week in the Espinar province of Peru's Cusco region, and protesters are reported to be demanding economic benefits related to the Antacappay copper mine. According to SMM, at present, the transportation sections from some mines to ports are still blocked, and they are shared by the surrounding large mines, or local troops are needed to intervene to clear the roads. After the economies of Chile and Peru have been hit by the epidemic, local instability has increased, posing a threat to the production and transportation of copper mines, and TC continues to be under pressure under tight copper supply.

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