Copper market report February 2012
2012-04-23 09:14:27 【Print】
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Contents
Introduction 1
1 Financial Overview 1
1.1 CPI increased due to the Spring Festival in Jan 1
1.2 PMI increases in Feb, and economy in soft landing in China 2
1.3 Greece finished salvage agreement, and European national debt auctioned successfully 3
1.4 US economy unlikely to recover, despite positive economy data 3
2 International market 4
2.1 Crude oil price increased, the Middle East in critical situation 4
2.2 European situation improved, US dollar at a weak level 5
2.3 Weak US dollar pushed up gold price 5
2.4 Copper in LME fluctuated in macroscopic economy 6
3 Domestic market review 8
3.1 Shanghai copper price instable, quiet activity dominates spot market 8
3.2 Processing fees of imported copper concentrate slightly up 9
4 Monthly production data 9
4.1 Global copper market sees oversupply 9
4.2 Production of refined copper in China regionally 10
5 Imports and exports data 11
5.1 Refined copper import data in China 11
5.2 Copper mine import data in China 11
5.3 Copper scrap import data in China 12
6 Company news 14
6.1 Mitsubishi Materials raises copper output 0.8% at Gresik smelter 14
6.2 Penghui Copper plans to decrease copper output 15
6.3 Yunnan Tin to put its copper smelting project into production 15
6.4 Northern Copper increase copper output by 25% in February 15
6.5 Jiangxi Copper Industry decreased output in February slightly 16
6.6 Many copper rod plants not resumed production 16
7 Related industry developments 17
7.1 Copper scrap supply tight 17
7.2 Copper rod market sluggish in China 17
8 Outlooks for March 17
Chart 1 CPI and PPI in 2011-2012 2
Chart 2 Manufacture industry handlers purchasing index in 2011-2012 in China 3
Chart 3 Gold price in February in US 4
Chart 4 US dollar trend in February 5
Chart 5 International gold price in February 6
Chart 6 Copper in LME in February 7
Chart 7 Copper in LME inventory in February 7
Chart 8 Copper price in Chinese spot market in February 9
Chart 9 Primary smelting fees of copper ore in February (USD/t) 10
Chart 10 Refined copper output in February in China 11
Chart 11 Refined copper import volume in China 12
Chart 12 Copper ore import volume in China 13
Chart 13 Copper scrap import volume in China 14
Table1 Top ten Chinese copper ore and concentrate importers in January 2012 14
Table2 Top ten Chinese refined copper importers in January 2012 14
Table3 Top ten Chinese copper scraps importers in January 2012 14
Introduction 1
1 Financial Overview 1
1.1 CPI increased due to the Spring Festival in Jan 1
1.2 PMI increases in Feb, and economy in soft landing in China 2
1.3 Greece finished salvage agreement, and European national debt auctioned successfully 3
1.4 US economy unlikely to recover, despite positive economy data 3
2 International market 4
2.1 Crude oil price increased, the Middle East in critical situation 4
2.2 European situation improved, US dollar at a weak level 5
2.3 Weak US dollar pushed up gold price 5
2.4 Copper in LME fluctuated in macroscopic economy 6
3 Domestic market review 8
3.1 Shanghai copper price instable, quiet activity dominates spot market 8
3.2 Processing fees of imported copper concentrate slightly up 9
4 Monthly production data 9
4.1 Global copper market sees oversupply 9
4.2 Production of refined copper in China regionally 10
5 Imports and exports data 11
5.1 Refined copper import data in China 11
5.2 Copper mine import data in China 11
5.3 Copper scrap import data in China 12
6 Company news 14
6.1 Mitsubishi Materials raises copper output 0.8% at Gresik smelter 14
6.2 Penghui Copper plans to decrease copper output 15
6.3 Yunnan Tin to put its copper smelting project into production 15
6.4 Northern Copper increase copper output by 25% in February 15
6.5 Jiangxi Copper Industry decreased output in February slightly 16
6.6 Many copper rod plants not resumed production 16
7 Related industry developments 17
7.1 Copper scrap supply tight 17
7.2 Copper rod market sluggish in China 17
8 Outlooks for March 17
Chart 1 CPI and PPI in 2011-2012 2
Chart 2 Manufacture industry handlers purchasing index in 2011-2012 in China 3
Chart 3 Gold price in February in US 4
Chart 4 US dollar trend in February 5
Chart 5 International gold price in February 6
Chart 6 Copper in LME in February 7
Chart 7 Copper in LME inventory in February 7
Chart 8 Copper price in Chinese spot market in February 9
Chart 9 Primary smelting fees of copper ore in February (USD/t) 10
Chart 10 Refined copper output in February in China 11
Chart 11 Refined copper import volume in China 12
Chart 12 Copper ore import volume in China 13
Chart 13 Copper scrap import volume in China 14
Table1 Top ten Chinese copper ore and concentrate importers in January 2012 14
Table2 Top ten Chinese refined copper importers in January 2012 14
Table3 Top ten Chinese copper scraps importers in January 2012 14
