》View SMM Metal Quotes, Data, and Market Analysis
》Subscribe to View Historical Price Trends of SMM Metal Spot
On January 3, the SMM Imported Copper Concentrate Index (weekly) was $5.85/mt, down $1.06/mt from the previous $6.91/mt. The pricing coefficient for domestic ore with a 20% grade was 93%-95%.
Spot market transactions during the week were relatively quiet. According to SMM, a trader sold 10,000 mt of clean ore to a smelter at a mid-single-digit TC, with a QP of M+5 and a shipment period in February/March. Previously, the bidding results for a total of 80,000 mt of copper ore from Collahuasi/Quellaveco for 2025 and 2026 were announced. The winning bid price for 40,000 mt of copper ore with a 2025 shipment period was around the low end of -$10, with 10,000 mt shipped each quarter. For 40,000 mt of copper ore with a 2026 shipment period, the winning bid price was in the mid-to-high range of negative single digits, with 10,000 mt shipped each quarter. The QP for both was M+4. Recently, in the copper concentrate spot market, copper concentrates, lead-zinc concentrates, and gold concentrates from Shouxin Peru have frequently appeared, all as spot cargoes at Lianyungang, with arrival times in March/April. Shouxin Peru's copper concentrates have high lead and zinc content, while its lead-zinc concentrates have high copper content. The copper concentrates have a lead content of 3%-4% and a zinc content of 8%-10%. Self pick-up at Lianyungang, with a copper pricing coefficient of 95%, gold and silver payable at 90%, and TC and impurity deductions calculated separately.
According to foreign media reports, the west coast of South America has been affected by huge waves, resulting in one fatality in Ecuador due to natural disasters. However, SMM has learned that there has been no negative feedback regarding the shipment operations of copper concentrates from major South American producing countries such as Chile, Peru, and Ecuador. Minera Los Pelambres, a copper mining company under Antofagasta, has submitted the Los Pelambres Life Extension (EVU) project to the Environmental Impact Assessment System (SEIA). This project aims to extend its operational life beyond 2035. Through this initiative, Minera Los Pelambres plans to continue copper production sustainably until 2051 by using clean energy and desalinated seawater.
As of January 3, SMM's nine-port copper concentrate inventory stood at 1.1047 million mt, down 208,900 mt from the previous period, with the main reduction coming from Fangchenggang. This week, Fangchenggang's copper concentrate inventory decreased by 160,000 mt WoW.
》View SMM Metal Industry Chain Database
