SMM Copper Industry Chain Data

Rio Tinto expects Resolution Copper mine to open by mid-2030s, may export some concentrate HOUSTON, March 24 (Reuters) – Rio Tinto aims to bring its Resolution Copper project in Arizona online by the mid-2030s, but may need to export some copper concentrate due to challenging economics for smelting in the U.S., a senior executive said on Tuesday. The mining giant recently gained control of key acreage for the project after a lengthy court battle.

On March 23, the copper exploration project in the Qiligou-Tielingwa area of Fuping County, Hebei Province, undertaken by the Hydrogeology Team of the Hebei Coalfield Geology Bureau, commenced smoothly.

The Shanghai spot copper market is expected to remain under pressure tomorrow. After copper prices jumped, downstream buying interest cooled, reflecting limited acceptance of current price levels. Suppliers showed strong willingness to sell, with some brands continuing to offload cargo, weighing on discounts. Downstream buyers mostly stayed on the sidelines, with procurement driven by rigid needs and dip-buying. Notably, the price spread between high-quality and standard-quality copper narrowed from earlier, indicating a more rational market where actual consumption demand is the dominant force. Overall, amid active selling by suppliers and cautious procurement by downstream buyers, the discount against the 2604 contract is expected to remain at current levels tomorrow.