Copper Market Report October 2016
2016-12-29 17:58:47 【Print】
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Introduction 3
1 International market review 3
1.1 LME copper prices down before rising initially 3
1.2 Copper inventories on LME drop sharply 3
2 Chinese domestic market review 4
2.1 Copper prices continue fluctuating upwards 4
2.2 Copper concentrate prices up 5
2.3 No improvement in copper rod market transactions 5
2.4 Copper scrap supply increases slightly 5
3 Monthly production data 6
3.1 Global refined copper output analysis 6
3.1.1 Global refined copper market in surplus of 90,000t during Jan-Aug period 6
3.2 Chinese copper product output analysis 6
3.2.1 Operating rate of Chinese low-oxygen copper rod plants edges down to 58.6% in October 6
3.2.2 AM Statistics: Chinese low-oxygen copper rod producers’ stocks down by about 1.3% MOM in late Oct 7
4.1 China’s refined copper imports up by about 4.6% MOM in September 8
4.2 China’s copper ore and concentrate imports down by around 4.5% MOM in September 10
4.3 China’s copper scrap imports down by 4.4% MOM in September 11
5 Company news 15
5.1 Copper refineries 15
5.11 Zhangjiagang United Copper increases copper cathode production in September 15
5.12 Second phase of Zhongyuan Gold copper cathode project expected to put into operation in late 2017 15
5.13 Hongda Molybdenum suspends copper concentrate production 15
5.2 Copper rod plants 15
5.21 Huaxin Nonferrous Metal reduces copper rod production 15
5.22 Zhongguangrun New Materials sees decreasing output of copper rod 15
6 Related industry developments 16
6.1 Total investment in real estate development up by 5.8% YOY in the first nine months 16
6.2 Total investment in power grid increases by 31.6% from January to September 16
7 Outlook for September 16
Picture 1 3-month copper on LME in September-October 3
Picture 2 Copper inventories on LME in September-October 3
Picture 3 Copper prices in Chinese market in September-October 4
Picture 4 Copper premiums in Shanghai in September-October 4
Picture 5 Copper concentrate 20%min prices in China in September-October 5
Picture 6 Operating rate of China’s low-oxygen copper rod plants in 2015-2016 7
Picture 7 Operating rates of Chinese copper rod producers in main provinces in 2015-2016 7
Picture 8 Copper rod stock changes in main provinces in 2015-2016 7
Picture 9 Copper rod stock changes in main provinces in 2015-2016 8
Picture 10 China’s refined copper imports in 2015- 2016 8
Picture 11 Chinese imports from Chile, India, Australia and Japan in 2015-2016 9
Picture 12 Copper ore and concentrate imports in 2015-2016 10
Picture 13 Chinese imports of copper ore from Chile, Peru and Mongolia 11
Picture 14 Chinese imports of copper scrap in 2015-2016 12
Picture 15 Chinese imports of copper scrap in main countries 12
Table 1 China’s copper imports in September 9
Table 2 Chinese imports of copper ore and concentrate in September 11
Table 3 Major Chinese copper ore and concentrate importers in September 11
Table 4 Chinese imports of copper scrap in September 12
Table 5 Major Chinese copper scrap importers in September 14
Introduction 2
1 International market review 3
1.1 LME copper prices down before rising initially 3
1.2 Copper inventories on LME drop sharply 3
2 Chinese domestic market review 4
2.1 Copper prices fluctuate up further 4
2.2 Copper concentrate prices up 5
2.3 Transactions in copper rod market unimproved 6
2.4 Copper scrap supply increases slightly 6
3 Monthly production data 6
3.1 Global refined copper output analysis 6
3.1.1 Global refined copper market in a surplus of 90,000t during Jan-August 6
3.2 Chinese copper product output analysis 7
3.2.1 Operating rate of Chinese low-oxygen copper rod plants edge down to 58.6% in October 7
3.2.2 AM Statistics: Chinese low-oxygen copper rod producers’ stocks down by about 1.3% MOM in late Oct 8
4.1 China’s refined copper imports up by about 4.6% MOM in September 9
4.2 China’s copper ore and concentrate imports down by around 4.5% MOM in September 11
4.3 China’s copper scrap imports down by 4.4% MOM in September 13
5 Company news 15
5.1 Copper refineries 15
5.11 Zhangjiagang United Copper increases copper cathode production in September 15
5.12 Zhongyuan Gold’s second-phase copper cathode project expected to put into operation in late 2017 15
5.13 Hongda Molybdenum suspends copper concentrate production 16
5.2 Copper rod plants 16
5.21 Huaxin Nonferrous Metal reduces copper rods production 16
5.22 Zhongguangrun New Materials sees decreasing output in copper rod 16
6 Related industry developments 16
6.1 Total investment in real estate development up by 5.8% YOY in the first night months 16
6.2 Total investment in power grid increased by 31.6% from January to September 17
7 Outlook for September 17
Picture 1 3-month copper on LME in September-October 3
Picture 2 Copper inventories on LME in September-October 3
Picture 3 Copper prices in Chinese market in September-October 4
Picture 4 Copper premiums in Shanghai in September-October 4
Picture 5 Copper concentrate 20%min prices in China in September-October 5
Picture 6 Operating rate of China’s low-oxygen copper rod plants in 2015-2016 7
Picture 7 Operating rates of Chinese copper rod producers in main provinces in 2015-2016 7
Picture 8 Copper rod stock changes in main provinces in 2015-2016 7
Picture 9 Copper rod stock changes in main provinces in 2015-2016 8
Picture 10 China’s refined copper imports in 2015- 2016 8
Picture 11 Chinese imports from Chile, India, Australia and Japan in 2015-2016 9
Picture 12 Copper ore and concentrate imports in 2015-2016 10
Picture 13 Chinese imports of copper ore from Chile, Peru and Mongolia 11
Picture 14 Chinese imports of copper scrap in 2015-2016 12
Picture 15 Chinese imports of copper scrap in main countries 12
Table 1 China’s copper imports in September 9
Table 2 Chinese imports of copper ore and concentrate in September 11
Table 3 Major Chinese copper ore and concentrate importers in September 11
Table 4 Chinese imports of copper scrap in September 12
Table 5 Major Chinese copper scrap importers in September 14
1 International market review 3
1.1 LME copper prices down before rising initially 3
1.2 Copper inventories on LME drop sharply 3
2 Chinese domestic market review 4
2.1 Copper prices continue fluctuating upwards 4
2.2 Copper concentrate prices up 5
2.3 No improvement in copper rod market transactions 5
2.4 Copper scrap supply increases slightly 5
3 Monthly production data 6
3.1 Global refined copper output analysis 6
3.1.1 Global refined copper market in surplus of 90,000t during Jan-Aug period 6
3.2 Chinese copper product output analysis 6
3.2.1 Operating rate of Chinese low-oxygen copper rod plants edges down to 58.6% in October 6
3.2.2 AM Statistics: Chinese low-oxygen copper rod producers’ stocks down by about 1.3% MOM in late Oct 7
4.1 China’s refined copper imports up by about 4.6% MOM in September 8
4.2 China’s copper ore and concentrate imports down by around 4.5% MOM in September 10
4.3 China’s copper scrap imports down by 4.4% MOM in September 11
5 Company news 15
5.1 Copper refineries 15
5.11 Zhangjiagang United Copper increases copper cathode production in September 15
5.12 Second phase of Zhongyuan Gold copper cathode project expected to put into operation in late 2017 15
5.13 Hongda Molybdenum suspends copper concentrate production 15
5.2 Copper rod plants 15
5.21 Huaxin Nonferrous Metal reduces copper rod production 15
5.22 Zhongguangrun New Materials sees decreasing output of copper rod 15
6 Related industry developments 16
6.1 Total investment in real estate development up by 5.8% YOY in the first nine months 16
6.2 Total investment in power grid increases by 31.6% from January to September 16
7 Outlook for September 16
Picture 1 3-month copper on LME in September-October 3
Picture 2 Copper inventories on LME in September-October 3
Picture 3 Copper prices in Chinese market in September-October 4
Picture 4 Copper premiums in Shanghai in September-October 4
Picture 5 Copper concentrate 20%min prices in China in September-October 5
Picture 6 Operating rate of China’s low-oxygen copper rod plants in 2015-2016 7
Picture 7 Operating rates of Chinese copper rod producers in main provinces in 2015-2016 7
Picture 8 Copper rod stock changes in main provinces in 2015-2016 7
Picture 9 Copper rod stock changes in main provinces in 2015-2016 8
Picture 10 China’s refined copper imports in 2015- 2016 8
Picture 11 Chinese imports from Chile, India, Australia and Japan in 2015-2016 9
Picture 12 Copper ore and concentrate imports in 2015-2016 10
Picture 13 Chinese imports of copper ore from Chile, Peru and Mongolia 11
Picture 14 Chinese imports of copper scrap in 2015-2016 12
Picture 15 Chinese imports of copper scrap in main countries 12
Table 1 China’s copper imports in September 9
Table 2 Chinese imports of copper ore and concentrate in September 11
Table 3 Major Chinese copper ore and concentrate importers in September 11
Table 4 Chinese imports of copper scrap in September 12
Table 5 Major Chinese copper scrap importers in September 14
Introduction 2
1 International market review 3
1.1 LME copper prices down before rising initially 3
1.2 Copper inventories on LME drop sharply 3
2 Chinese domestic market review 4
2.1 Copper prices fluctuate up further 4
2.2 Copper concentrate prices up 5
2.3 Transactions in copper rod market unimproved 6
2.4 Copper scrap supply increases slightly 6
3 Monthly production data 6
3.1 Global refined copper output analysis 6
3.1.1 Global refined copper market in a surplus of 90,000t during Jan-August 6
3.2 Chinese copper product output analysis 7
3.2.1 Operating rate of Chinese low-oxygen copper rod plants edge down to 58.6% in October 7
3.2.2 AM Statistics: Chinese low-oxygen copper rod producers’ stocks down by about 1.3% MOM in late Oct 8
4.1 China’s refined copper imports up by about 4.6% MOM in September 9
4.2 China’s copper ore and concentrate imports down by around 4.5% MOM in September 11
4.3 China’s copper scrap imports down by 4.4% MOM in September 13
5 Company news 15
5.1 Copper refineries 15
5.11 Zhangjiagang United Copper increases copper cathode production in September 15
5.12 Zhongyuan Gold’s second-phase copper cathode project expected to put into operation in late 2017 15
5.13 Hongda Molybdenum suspends copper concentrate production 16
5.2 Copper rod plants 16
5.21 Huaxin Nonferrous Metal reduces copper rods production 16
5.22 Zhongguangrun New Materials sees decreasing output in copper rod 16
6 Related industry developments 16
6.1 Total investment in real estate development up by 5.8% YOY in the first night months 16
6.2 Total investment in power grid increased by 31.6% from January to September 17
7 Outlook for September 17
Picture 1 3-month copper on LME in September-October 3
Picture 2 Copper inventories on LME in September-October 3
Picture 3 Copper prices in Chinese market in September-October 4
Picture 4 Copper premiums in Shanghai in September-October 4
Picture 5 Copper concentrate 20%min prices in China in September-October 5
Picture 6 Operating rate of China’s low-oxygen copper rod plants in 2015-2016 7
Picture 7 Operating rates of Chinese copper rod producers in main provinces in 2015-2016 7
Picture 8 Copper rod stock changes in main provinces in 2015-2016 7
Picture 9 Copper rod stock changes in main provinces in 2015-2016 8
Picture 10 China’s refined copper imports in 2015- 2016 8
Picture 11 Chinese imports from Chile, India, Australia and Japan in 2015-2016 9
Picture 12 Copper ore and concentrate imports in 2015-2016 10
Picture 13 Chinese imports of copper ore from Chile, Peru and Mongolia 11
Picture 14 Chinese imports of copper scrap in 2015-2016 12
Picture 15 Chinese imports of copper scrap in main countries 12
Table 1 China’s copper imports in September 9
Table 2 Chinese imports of copper ore and concentrate in September 11
Table 3 Major Chinese copper ore and concentrate importers in September 11
Table 4 Chinese imports of copper scrap in September 12
Table 5 Major Chinese copper scrap importers in September 14
