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Refined Copper:
Statistics show that China's output of refined copper was 336kt during July, up 0.7% YoY, and up 0.15% MoM. YTD output was 2.26 million mt, up 5.11% YoY. Monthly domestic output of refined copper remained at 335kt/month from April to July. Domestic output of refined copper is expected to increase slightly in the future with the completion of unit maintenance at selected smelters, as well as from increased scrap copper supply.
Copper Semis:
According to the National Bureau of Statistics, China's output of copper semis was 785.7kt during July, up 21% YoY, but down 14.06% MoM. YTD output was 5.21 million mt, up 13.5% YoY. China's output of copper semis experienced slight declines on a monthly basis, but reported growth on yearly basis, signaling domestic consumption for copper semis remains strong during the seasonal low demand period.
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