[comment on SMM Copper concentrate] Winter Storage and demand Refinery in North China adheres to the bottom line of Changdan 80

SMM Nov. 12 News: last week, the copper concentrate spot market is still quiet, spot TC stable above 90 US dollars / ton, the recent transaction TC is in the range of 90 to 94 US dollars / ton, as of Friday, SMM clean mining spot goods reported 90 to 94 US dollars / ton. It's the same as the week before.

The main event, CESCO, will be held this week, and the two sides of the negotiations have begun to travel to Shanghai one after another. In mines, Chile produced 4.25 million tons of copper from January to September, an increase of 7.3 per cent over the same period last year. Of this total, Codelco1- produced 1.29 million tons in September, down 2 per cent from a year earlier, while Collahuasi production increased by 5.8 per cent to 401800 tons. Escondida1-9 rose 57. 8 per cent from a year earlier to 95. 5 per cent. 90000 tons. As for smelters, according to SMM, it still adheres to the bottom line of $80 / ton benchmark, and some large smelters have initially decided on maintenance plans. We expect $80 to $85 a ton is still a high probability range.

(SMM grandson Yang)