[SMM Weekly selected] Peruvian Copper Mine Transportation blocked follow-up Copper Mine supply caused concern

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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Catalogue of "SMM Copper Industry chain Weekly report" in this issue

Analysis of hot topics: refining and refining processing fees deviate from the tense situation of raw materials is difficult to change

Copper price forecast next week and focus on economic data

SMM data: spot discount, inventory at home and abroad, refined waste price difference

The transportation of Peruvian copper mine is blocked and the follow-up supply of copper mine attracts attention.

Scrap copper stocks continue to release and supply tightens compared with the previous month.

Local trading situation and output of electrolytic copper

Copper trade market analysis (Yangshan copper premium trend, import profit and loss data)

The latest situation of enterprise research: data and analysis of operating rate of copper enterprises

Maintenance trend of smelter

LME&COMEX: copper inventory and cancellation warehouse receipt ratio, LME copper spot discount

Dynamic news of enterprises at home and abroad

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The "SMM China Copper Industry chain routine report" includes changes in exclusive data markets from copper mines, smelters to copper processing materials, spot to futures markets, future views, and weekly updates of hot events, focusing on contradictions that have changed greatly during the week. "View details