Red Metals Secures Funding for New Copper Recycling Facility

Aurubis has commissioned a new exhaust-gas collection and treatment system at its Hamburg smelter. The company describes it as the most powerful exhaust system in the global copper industry. The investment supports lower emissions and strengthens Aurubis' environmental performance.

Glencore Canada has welcomed the Québec government's passage of Bill 11, which establishes a stable regulatory framework for the Horne Smelter through 2033. The legislation extends the timeline for compliance with stricter arsenic emission standards, providing greater certainty for ongoing operations and investment planning. As a result, Glencore plans to gradually resume approximately C$300 million in environmental improvement projects that had previously been placed on hold due to regulatory uncertainty. The company said these projects are expected to position the Horne Smelter among the world's leading copper smelters in terms of environmental performance. Horne remains Canada's only operating copper smelter and plays a strategic role in the country's critical minerals and refining supply chain.

SMM Morning Meeting Summary: Last Friday night, LME copper opened at $13,675/mt, then its price center fluctuated downward to a low of $13,611/mt, before fluctuating upward, climbing to $13,729.5/mt near the end of the session, and eventually closed at $13,713.5/mt, up 1.02%. Trading volume reached 19,000 lots, and open interest reached 266,000 lots, an increase of 1,001 lots from the previous trading day, indicating long positions added. Last Friday night, the most-traded SHFE copper 2607 contract opened at 104,280 yuan/mt, immediately dipped to 104,250 yuan/mt after opening, then its price center fluctuated upward all the way to a high of 105,050 yuan/mt, and eventually closed at 104,980 yuan/mt, up 0.31%. Trading volume reached 25,000 lots, and open interest reached 148,000 lots, a decrease of 1,207 lots from the previous trading day, indicating short positions reduced.