Copper Pipe & Tube Operating Rate Drops to 72.26% in May, Down 8.01% MoM and 9.5% YoY

According to SMM market communication, available cargoes in the market remain limited. Although copper prices broke through 109,000 yuan/mt again, any suitable cargoes reported in the spot market are quickly traded, with traders and downstream inquiries showing strong enthusiasm. Meanwhile, as month-end approaches, the supply of cargoes with invoices dated this month has become even tighter. Some suppliers still have demand to cover their month-end invoices, making the offers for cargoes with invoices dated this month notably firm, further widening the price spread between cargoes with invoices dated this month and next month to 60-100 yuan/mt.

On August 25, the National Energy Administration released national power statistics for January-July.As of month-end July, China’s cumulative installed power generation capacity reached 4.08 billion kW, up 11.0% YoY. Of this total, installed solar power capacity was 1.29 billion kW, up 16.1% YoY; installed wind power capacity was 690 million kW, up 19.5% YoY.

Kamoa Copper has placed a SEK275 million order for 19 additional Sandvik Toro underground trucks and loaders for the Kamoa-Kakula copper complex in the DRC. The equipment will expand one of Sandvik's largest underground fleets globally and support safe, efficient and predictable production as Kamoa-Kakula continues its long-term underground development.