Copper News Roundup

Published: Jul 12, 2021 15:30

Save

It was reported that the equipment of a smelter in Shandong suddenly failed last weekend, and it is estimated that it will take at least one month to repair.

SHANGHAI, Jul 12 (SMM) — This is a roundup of news in the copper industry for today.

A smelter in Shandong experienced equipment failure over the weekend

It was reported that the equipment of a smelter in Shandong suddenly failed last weekend, and it is estimated that it will take at least one month to repair. The equipment failure of this enterprise will further boost TCs for spot copper concentrate to a certain extent, and lead a continuous decline in domestic refined copper inventories. SMM will continue to report the follow-up news.

The commissioning time of China's largest copper smelter project will be moved backward

According to SMM survey, due to the interference of pandemic situation, arrivals of some imported equipment have been affected, and the commissioning time of 400,000 mt of high-purity cathode copper cleaner production project of Daye Nonferrous Metals Co., Ltd., which is funded by China Nonferrous Metals Group, will be moved backward to mid-2022. The project introduced the world-advanced "flash smelting and flash blowing" flash process, and the project started construction on May 12, 2020. After completion, it can realise the annual copper concentrate processing capacity of 1.6 million mt, with an annual output of 400,000 mt of copper cathode and 1.5 million mt of sulphuric acid, which is the largest copper smelter project newly expanded in China after 2019.

Copper

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

21 mins ago

National copper inventories continue to decline; pre-holiday stockpiling supports demand recovery [SMM Weekly Data]

21 mins ago

48 mins ago

SHFE/LME price ratio declines with limited offers and bids, morning market quiet [SMM Yangshan spot copper]

48 mins ago

2 hours ago

Shanghai inventory drops sharply amid pre-holiday stockpiling; spot premiums expected to stay firm [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, SMM recorded social inventory in Shanghai at 43,900 mt, down 14,700 mt MoM; social inventory in Jiangsu stood at 20,600 mt, down 200 mt MoM. Trading performance was relatively strong last Thursday and Friday, with downstream processing enterprises picking up goods as usual, while limited inbound supply replenished warehouses, driving a notable decline in Shanghai inventory and keeping available cargoes in the market persistently tight. Although some imported copper arrived successively, most of it flowed directly to downstream processing enterprises and did not enter warehouse statistics. Meanwhile, as the Mid-Autumn Festival and National Day holidays approach, some downstream enterprises have begun pre-holiday stockpiling, further boosting spot procurement demand. Overall, supported by low inventory, tight availability of cargoes, and pre-holiday stockpiling demand, Shanghai spot premiums are expected to have room to edge up slightly tomorrow.

2 hours ago