Copper Market Report January 2016

Contents

Introduction 3
1 International market review 3
1.1 Copper futures on LME go down 3
1.2 Copper inventories on LME rebound 3
2 Chinese domestic market review 3
2.1 Copper prices edge down 3
2.2 Spot copper concentrate supply tight 4
2.3 Trading in copper rod market thin 5
2.4 Copper scrap supply still tight 5
3 Monthly production data 5
3.1 Global refined copper output analysis 5
3.1.1 Global refined copper market in surplus by 248,000t in Jan-Nov 5
3.2 Chinese copper product analysis 5
3.2.Asian Metal Copyright2 China’s copper ore and concentrate imports up by 2.Asian Metal Copyright1 Operating rate of China’s low-oxygen copper rod plants falls to 56.25% in January 5
3.2.Asian Metal Copyright4 Chinese imports of copper scraps up by 25.Asian Metal Copyright2 Copper rod stocks in Chinese low-oxygen copper rod plants up by 4.69% MOM in late January 6
4 Import data 7
4.1 China’s copper imports up by 25.22% MOM in December 7
4.2 China’s copper ore and concentrate imports up by 2.78% MOM in December 10
4.3 Chinese imports of copper products up by 10.7% MOM in December 12
4.4 Chinese imports of copper scraps up by 25.22% MOM in December 12
5 Company news 14
5.1 Copper refineries 14
5.1.1 Xinze Copper produces around 50,000t of copper in 2015 14
5.1.2 Bayannur Western Copper Product resumes copper production 14
5.2 Copper rod plants 14
5.2.1 Jiangtong North China Tianjin Copper to suspend production of copper rod for maintenance 14
5.2.2 Eastern Copper produces 175,000t of copper rod in 2015 14
5.2.3 Shengxiang Copper suspends copper rod production 15
6 Related industry developments 15
6.1 China’s real estate development investment up by 1% YOY in 2015 15
6.2 State Grid to invest 439 billion yuan in power grid construction in 2016 15
7 Outlook for February 15



.Asian Metal Copyright1 Operating rate of China’s low-oxygen copper rod plants falls to 56Asian Metal Copyright