SMM New Year’s Day Holiday Notice

Metso has secured a contract with Southern Peru Copper Corporation to supply copper refining technology for the Tía María project in Peru. The facility will produce 120,000 tonnes of LME-grade copper cathodes annually, highlighting continued investment in refining capacity.

Hindustan Copper will build a 3 MTPA copper concentrator plant at its Malanjkhand project, aiming to scale up output and reduce India’s heavy reliance on copper imports. The project is expected to be completed within 27 months as part of a broader expansion strategy.

SMM Morning Meeting Summary: Overnight, LME copper opened at $12,216/mt and dipped to $12,181.5/mt in early trading. Copper prices then fluctuated upward in center and, near the close, touched a high of $12,420/mt, finally closing at $12,382.5/mt, up 1.64%. Trading volume reached 18,800 lots, and open interest stood at 298,900 lots, an increase of 3,875 lots from the previous trading day. Overnight, the most-traded SHFE copper 2605 contract opened at 95,730 yuan/mt and fluctuated rangebound in early trading, hitting a low of 95,550 yuan/mt. It then fluctuated upward all the way to a high of 96,780 yuan/mt, finally closing at 96,760 yuan/mt, up 1.26%. Trading volume reached 56,200 lots, and open interest stood at 186,300 lots, an increase of 598 lots from the previous trading day, mainly driven by increased long positions.