The Antamina accident increased supply-side disruptions, and the mine tender results led the market to decline. [SMM Weekly Review of Spot Copper Concentrates]

》View SMM Metal Quotes, Data, and Market Analysis

》Order and View SMM Metal Spot Historical Price Trends             

       On April 25, the SMM Imported Copper Concentrate Index (weekly) was reported at -$42.52/dmt, a decrease of $7.81/dmt from the previous period's -$34.71/dmt. The pricing coefficient for domestic trade ore with a 20% grade was 93%-95%.

       Spot market transactions remained sluggish during the week, with spot copper concentrate transactions and inquiries continuing to be weak. During the week, a trader offered a 20,000 mt package of copper concentrate at a low single-digit RC of -$40. As the backwardation structure in the futures market deepened, the QP also contracted towards the near month, with the loading period set for June. It is expected that multiple traders will start offering positions for June next week, with the RC continuing to decline to the mid -$40s. During the week, the tender results from a major miner were announced, with a 10,000 mt standard clean ore tender for smelters with a June loading period at -$44/dmt, and a 10,000 mt standard clean ore tender for traders with a June loading period at -$66/dmt. During the week, a 20,000 mt Constancia copper concentrate tender for traders with a loading period in May and June closed on April 22. A 20,000 mt Cadia copper concentrate tender for traders with a loading period in May and June closed on April 29.

       According to SMM, the Antamina copper mine in Peru, which was shut down due to an accident on April 22, gradually resumed operations on the morning of April 24. The specific recovery situation remains uncertain, and SMM will continue to report on subsequent developments.

       SMM's nine-port copper concentrate inventory on April 25 was 802,000 mt, an increase of 95,100 mt from the previous period, with the main increment coming from Qingdao Port. This week, Qingdao Port's copper concentrate inventory increased by 70,000 mt WoW.

                                                                                                                 》View SMM Metal Industry Chain Database