Copper Market Report January 2015
2015-02-11 14:43:16 【Print】
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Introduction 5
1. Financial Overview 5
1.1 Domestic financial overview 5
1.1.1 December CPI up 1.5% YOY PPI down 3.3% YOY in China 5
1.1.2 China’s January PMI drop 0.3% 6
1.2 International financial overview 7
1.2.1 Crude oil futures prices fluctuated but ended with stability 7
1.2.2 The US dollar went up continuously in January 8
2 International market review 9
2.1 Copper futures on LME move down 9
2.2 Copper inventories on LME go up significantly 10
2.3 North American copper market flat 11
3 Chinese domestic market review 11
3.1 Copper prices in China move down constantly 11
3.2 Copper concentrate market sluggish 12
3.3 Copper rod market decreases 13
3.4 Copper scrap prices tumble 14
4 Monthly production data 14
4.1 Global refined copper output analysis 14
4.1.1 Global refined copper market in deficit by 12,200t in Jan-Nov 14
4.2 Chinese copper and copper product analysis 15
4.2.1 Operating rate of Chinese main copper refineries in January up by 2.0% MOM 15
4.2.2 Operating rate of China’s main copper rod plants in January down by 3.5% MOM 16
4.2.3 Copper rod stocks in main Chinese plants down by 16.9% MOM in late January 16
5 Import data 17
5.1 Chinese copper imports in December down by 1.7% MOM 17
5.2 Chinese copper ore and concentrate imports in December up by 1.2% MOM 21
5.3 Chinese imports of copper products in December up by 16% MOM 24
5.4 Chinese imports of copper scraps in December up by 14% MOM 25
6 Company news 28
6.1 Copper refineries 28
6.1.1 Jiangxi Copper produces 1,020,000t of copper in 2014 28
6.1.2 Jinguan Copper fulfills its annual target of copper outputs of 340,000t in 2014 28
6.1.3 Daye Nonferrous Metal cuts copper production for annual maintenance 28
6.1.4 Zhongyuan Gold plans to put its expansion copper project of 200,000tpy on stream in April 28
6.2 Copper rod plants 29
6.2.1 Duwufeng Copper Product produces 210,000t of copper rod in 2014 29
6.2.2 Xinneng Recycling Resources 2014 copper rod outputs reach 50,000t 29
6.2.3 Tianda Group 150,000tpy copper rod project to come on stream in late April 29
7 Related industry developments 29
7.1 China’s real estate development investment increases by 10.5% YOY in 2014 29
7.2 Chinese power grid construction investment in 2015 to up by 9% 30
8 Outlook for February 30
1. Financial Overview 5
1.1 Domestic financial overview 5
1.1.1 December CPI up 1.5% YOY PPI down 3.3% YOY in China 5
1.1.2 China’s January PMI drop 0.3% 6
1.2 International financial overview 7
1.2.1 Crude oil futures prices fluctuated but ended with stability 7
1.2.2 The US dollar went up continuously in January 8
2 International market review 9
2.1 Copper futures on LME move down 9
2.2 Copper inventories on LME go up significantly 10
2.3 North American copper market flat 11
3 Chinese domestic market review 11
3.1 Copper prices in China move down constantly 11
3.2 Copper concentrate market sluggish 12
3.3 Copper rod market decreases 13
3.4 Copper scrap prices tumble 14
4 Monthly production data 14
4.1 Global refined copper output analysis 14
4.1.1 Global refined copper market in deficit by 12,200t in Jan-Nov 14
4.2 Chinese copper and copper product analysis 15
4.2.1 Operating rate of Chinese main copper refineries in January up by 2.0% MOM 15
4.2.2 Operating rate of China’s main copper rod plants in January down by 3.5% MOM 16
4.2.3 Copper rod stocks in main Chinese plants down by 16.9% MOM in late January 16
5 Import data 17
5.1 Chinese copper imports in December down by 1.7% MOM 17
5.2 Chinese copper ore and concentrate imports in December up by 1.2% MOM 21
5.3 Chinese imports of copper products in December up by 16% MOM 24
5.4 Chinese imports of copper scraps in December up by 14% MOM 25
6 Company news 28
6.1 Copper refineries 28
6.1.1 Jiangxi Copper produces 1,020,000t of copper in 2014 28
6.1.2 Jinguan Copper fulfills its annual target of copper outputs of 340,000t in 2014 28
6.1.3 Daye Nonferrous Metal cuts copper production for annual maintenance 28
6.1.4 Zhongyuan Gold plans to put its expansion copper project of 200,000tpy on stream in April 28
6.2 Copper rod plants 29
6.2.1 Duwufeng Copper Product produces 210,000t of copper rod in 2014 29
6.2.2 Xinneng Recycling Resources 2014 copper rod outputs reach 50,000t 29
6.2.3 Tianda Group 150,000tpy copper rod project to come on stream in late April 29
7 Related industry developments 29
7.1 China’s real estate development investment increases by 10.5% YOY in 2014 29
7.2 Chinese power grid construction investment in 2015 to up by 9% 30
8 Outlook for February 30
