According to Ivanhoe Mines: On June 3, Ivanhoe Mines announced that following the suspension of underground mining operations at the Kakula mine on May 20, 2025, senior management continues to work closely with a team of world-class geotechnical experts to safely and prudently resume mining operations. The engineering team at Kamoa Copper is updating the short-term, medium-term, and long-term plans for resuming operations in the eastern and western zones of the Kakula mine. It is expected that underground mining operations in the western zone of the Kakula mine will resume in late June, subject to the progress of dewatering efforts. The western zone of the Kakula mine has not been flooded and has a dewatering capacity of 1,000 liters per second.

According to SMM, the operating rate of domestic copper wire and cable enterprises was 81.38% in May this year, up 0.07 percentage point MoM and up 13.48 percentage points YoY, which was 3.28 percentage points lower than the estimated operating rate. Among them, the operating rate of large enterprises was 87.17%.

[SMM Analysis: Copper Wire and Cable Enterprises' Operating Rates Show Mixed Performance in May, Operating Rate No Longer Strong in June] According to SMM, the operating rate of domestic copper wire and cable enterprises was 81.38% in May this year, up 0.07 percentage point MoM and up 13.48 percentage points YoY, which was 3.28 percentage points lower than the projected operating rate. Among them, the operating rate of large enterprises was 87.17%...

SMM's monthly production data for base metals is released at the end of each month, aiming to uncover the true fundamentals for industry chain professionals and investors, and providing a clearer grasp of the future direction of the non-ferrous metal market.

SMM Analysis: In May 2025, blister copper RCs in south China were quoted at 600-800 yuan/mt, with an average of 700 yuan/mt, down 350 yuan/mt MoM. Blister copper RCs in north China were quoted at 650-850 yuan/mt, with an average of 750 yuan/mt, down 100 yuan/mt MoM...

[SMM Analysis: Limited Upside Potential for Copper Anode RCs Amidst Tight Supply, Short-Term Market Structure Unlikely to Change] In May 2025, domestic blister copper RCs in south China were quoted at 600-800 yuan/mt, with an average price of 700 yuan/mt, down 350 yuan/mt MoM. Domestic blister copper RCs in north China were quoted at 650-850 yuan/mt, with an average price of 750 yuan/mt, down 100 yuan/mt MoM...