Demanda final fraca, taxa de operação de tarugos de latão deve cair ainda mais

[SMM Analysis: H1 2026 Secondary Copper Rod Market Semi-Annual Report: Compliance Reshapes Pricing Logic, Supply-Demand Standoff Throughout] In H1 2026, the secondary copper rod market completely broke away from the traditional pricing framework of "copper prices – supply and demand." It was primarily impacted by the dual policy shocks of "reverse invoicing" moving from transitional verification to full implementation and the clearance of local irregular fiscal and tax incentives (Document No. 770), coupled with wide fluctuations as the most-traded SHFE copper contract retreated from the record high of 113,800 yuan/mt at the start of the year and consistently held the threshold of 100,000 yuan/mt in mid-year. The entire industry found itself in a deep stalemate characterized by "policies setting the structure, invoices locking in transactions, and copper prices setting the pace," with the operating rate plunging sharply YoY, and enterprises generally walking a tightrope between compliance pressure and weak demand.....

Zijin Mining (601899) divulgou uma previsão de resultados em 9 de julho, projetando lucro líquido atribuível aos acionistas para o primeiro semestre de 2026 de aproximadamente 39,1 bilhões de yuan, alta de cerca de 68% na comparação anual. No período de referência, os preços de venda dos produtos da empresa registraram forte aumento ano a ano, enquanto os lucros com metais raros e preciosos (molibdênio, tungstênio, estanho), concentrados de enxofre e ácido sulfúrico cresceram de forma expressiva no comparativo anual.