SMM Zhejiang Tax-Inclusive Copper Scrap Reference Price (March 24, 2026)

Rio Tinto is considering increasing its stake in the Los Azules copper project in Argentina. The project is regarded as one of the world’s largest undeveloped copper deposits and is expected to begin production in 2030, with average annual copper cathode output estimated at approximately 204,800 mt during its first five years of operation. Rio Tinto currently holds around 17.2% of project developer McEwen Copper through its Nuton venture, while Stellantis is also among the project’s key shareholders. Market attention remains focused on major mining companies continuing to strengthen investments in high-quality global copper resources.

[SMM Brass Billet News] From the perspective of enterprise scale, large enterprises maintained operating rates at a relatively high level of nearly 60%, supported by stable raw material channels, order resources, and capital advantages. Medium-sized enterprises recorded an operating rate of 43.74%, with production pace slowing down due to the dual pressures of order stability and raw material costs. Small enterprises, constrained by multiple factors including difficulties in raw material procurement, insufficient orders, and cost pressure, posted an operating rate of only 27.28%.

[SMM Brass Billet News Flash] According to SMM data, the comprehensive operating rate of copper billet producers in China was 52.18% in April, down 0.41 percentage points MoM and down 2.79 percentage points YoY. The overall operating level continued its weak trend, and the divergence among enterprises became more pronounced.