Copper Market Report February 2016

Contents

Introduction 3
1 International market review 3
1.1 Copper futures on LME range narrowly 3
1.2 Copper inventories on LME fall 3
2 Chinese domestic market review 3
2.1 Copper prices fluctuate at low levels 3
2.2 Spot copper concentrate TCs decline 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 by146,000t in 2015 5
3.2 Chinese copper product analysis 5
3.2.Asian Metal Copyright2 Jiangtong North China Tianjin Copper’s copper rod outputs up by 66.Asian Metal Copyright1 Operating rate of China’s low-oxygen copper rod plants falls to 28.94% in February 5
3.2.Asian Metal Copyright3 Chinese imports of copper scraps down by 28.Asian Metal Copyright2 Copper rod stocks in Chinese low-oxygen copper rod plants up by 9.1% MOM in late February 6
4 Import data 7
4.1 China’s copper imports down by 23.47% MOM in January 7
4.2 China’s copper ore and concentrate imports down by 20.78% MOM in January 8
4.3 Chinese imports of copper scraps down by 28.16% MOM in January 10
5 Company news 11
5.1 Copper refineries 11
5.1.1 Daye Nonferrous Metal to stop copper production for annual repairs on March 9 11
5.1.2 Jinlong Copper to produce 460,000t of copper in 2016 12
5.2 Copper rod plants 12
5.2.1 Kunming Copper to resume copper rod production on February 15 12
5.2.Asian Metal Copyright47% MOM in January 7 4.Asian Metal Copyright2 Jiangtong North China Tianjin Copper’s copper rod outputs up by 66.7% MOM in February 12
6 Related industry developments 12
6.1 China to launch a new round power grid update in rural areas 12
7 Outlook for March 12

.Asian Metal Copyright1 Copper futures on LME range narrowly 3 1Asian Metal Copyright