Copper Market Report April 2016

Contents
Introduction 3
1 International market review 3
1.1 Copper futures on LME climb after a short-lived retreat 3
1.2 Copper inventories on LME advance 3
2 Chinese domestic market review 3
2.1 Copper prices in China increase 3
2.2 Spot copper concentrate TCs advance 4
2.3 Trading in copper rod market improves 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 a surplus of 120,000t during Jan-Feb 5
3.2 Chinese copper product analysis 5
3.2.Asian Metal Copyright4% MOM in March 7 4.Asian Metal Copyright1 Operating rate of China’s low-oxygen copper rod plants climb to 57.76% in April 5
3.2.Asian Metal Copyright76% in April 5 3.Asian Metal Copyright2 Copper rod stocks in Chinese low-oxygen copper rod plants down by 5.6% MOM in late April 6
4 Import data 7
4.1 China’s copper imports up by 39.4% MOM in March 7
4.2 China’s copper ore and concentrate imports down by 5.7% MOM in March 8
4.3 Chinese imports of copper scraps up by 76.3% MOM in March 9
5 Company news 11
5.1 Copper refineries 11
5.1.1 Xianghui Copper’s 100,000tpy copper project comes on stream 11
5.1.2 Chifeng Yunnan Copper to make annual repairs in June 11
5.1.3 Guorun Copper to enlarge copper smelting capacity 11
5.2 Copper rod plants 12
5.2.1 Jiangxi Copper’s copper rod outputs to decline by 20% YOY in April 12
5.2.2 Quanwei Tongling Copper to resume copper rod production in early May 12
6 Related industry developments 12
6.1China’s real estate development investment up by 6.2% YOY in Jan-Mar 12
6.2 China’s investment in power grid during Jan-Mar up by 40.8% YOY 12
7 Outlook for May 12


.Asian Metal Copyright6% MOM in late April 6 4 Import data 7 4Asian Metal Copyright