Copper Market Report March 2017
2017-04-25 09:00:16 【Print】
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Abstract 3
1 International market review 3
1.1 LME copper price fluctuate down 3
1.2 Copper inventories on LME up significantly 3
2 Chinese market review 4
2.1copper cathode supply exceeds demand in Chinese spot market 4
2.2 Inquires for imported copper concentrate increase in spot market 5
2.3 demand for copper rod moves upward in general 6
2.4 copper scrap sees weakened competitive advantage 6
3 Monthly production data 6
3.1Global refined copper output analysis 6
3.1.1 Global refined copper market in surplus of 58,000t in 2016 6
3.2 Chinese copper products output analysis 7
3.2.1 Operating rate of Chinese low-oxygen copper rod producers rises to 67.8% in March 7
3.2.2 Chinese low-oxygen copper rod producers’ stocks down by about 8.6% MOM in late March 8
4 Import & Export data 9
4.1 China’s refined copper imports down by about 16% MOM in February 9
4.2 China’s copper ore and concentrate imports up by about 14.9% MOM in Feb 2017 10
4.3 China’s imports for copper scrap slightly down by about 16% MOM in February 12
5 Company news 14
5.1 Copper concentrate and refined copper 14
5.1.1 Ganxing Trade postpones resuming copper concentrate production 14
5.1.2 Guorun Copper delays releasing copper cathode capacity 14
5.2 Copper rod 14
5.2.1 Amer (Gansu) Copper gradually releases copper rod capacity 15
5.2.2 Xinghai Copper puts new low-oxygen copper rod project into production 15
6 Related industry developments 15
6.1 National Real Estate Development and Sales in the First Two Months of 2017 15
6.2 China’s power grid projects see investments edging down by 0.4% YOY in the first two month of 2017 16
7 Market outlook for April 16
Appendix 16
Picture 1 3-month copper on LME from February 2017 to March 2017 3
Picture 2 Copper inventories on LME from Feb 2017 to Mar 2017 4
Picture 3 Spot copper prices in Chinese market from Feb 2017 to Mar 2017 4
Picture 4 Copper premiums in Shanghai from Feb 2017 to Mar 2017 5
Picture 5 Spot copper concentrate price trend in China from Feb 2017 to Mar 2017 5
Picture 6 China’s refined copper imports from Jan 2016 to Feb 2017 9
Picture 7 China’s refined copper imports by major country from Jan 2016 to Feb 2017 9
Picture 8 China’s copper ore and concentrate imports by month from Jan 2016 to Feb 2017 10
Picture 9 China’s copper ore and concentrate imports by origin country from Jan 2016 to Feb 2017 11
Picture 10 China’s imports for copper scrap from Jan 2016 to Feb 2017 12
Picture 11 China’s copper scrap imports by country from Jan 2016 to Feb 2017 12
Table 1 China’s refined copper imports by country in Feb 2017 9
Table 2 China’s copper ore and concentrate imports by origin country in Feb 2017 11
Table 3 China’s major copper ore importers in Feb 12
Table 4 China’s copper scrap imports by country in Feb 2017 13
Table 5 China’s major importers for copper scrap 14
Table 6 Major Chinese copper concentrate importers in February 2017 16
Table 7 Major Chinese importers of refined copper in Feb 2017 21
Table 8 Major Chinese importers of copper scrap in Feb 2017 26
1 International market review 3
1.1 LME copper price fluctuate down 3
1.2 Copper inventories on LME up significantly 3
2 Chinese market review 4
2.1copper cathode supply exceeds demand in Chinese spot market 4
2.2 Inquires for imported copper concentrate increase in spot market 5
2.3 demand for copper rod moves upward in general 6
2.4 copper scrap sees weakened competitive advantage 6
3 Monthly production data 6
3.1Global refined copper output analysis 6
3.1.1 Global refined copper market in surplus of 58,000t in 2016 6
3.2 Chinese copper products output analysis 7
3.2.1 Operating rate of Chinese low-oxygen copper rod producers rises to 67.8% in March 7
3.2.2 Chinese low-oxygen copper rod producers’ stocks down by about 8.6% MOM in late March 8
4 Import & Export data 9
4.1 China’s refined copper imports down by about 16% MOM in February 9
4.2 China’s copper ore and concentrate imports up by about 14.9% MOM in Feb 2017 10
4.3 China’s imports for copper scrap slightly down by about 16% MOM in February 12
5 Company news 14
5.1 Copper concentrate and refined copper 14
5.1.1 Ganxing Trade postpones resuming copper concentrate production 14
5.1.2 Guorun Copper delays releasing copper cathode capacity 14
5.2 Copper rod 14
5.2.1 Amer (Gansu) Copper gradually releases copper rod capacity 15
5.2.2 Xinghai Copper puts new low-oxygen copper rod project into production 15
6 Related industry developments 15
6.1 National Real Estate Development and Sales in the First Two Months of 2017 15
6.2 China’s power grid projects see investments edging down by 0.4% YOY in the first two month of 2017 16
7 Market outlook for April 16
Appendix 16
Picture 1 3-month copper on LME from February 2017 to March 2017 3
Picture 2 Copper inventories on LME from Feb 2017 to Mar 2017 4
Picture 3 Spot copper prices in Chinese market from Feb 2017 to Mar 2017 4
Picture 4 Copper premiums in Shanghai from Feb 2017 to Mar 2017 5
Picture 5 Spot copper concentrate price trend in China from Feb 2017 to Mar 2017 5
Picture 6 China’s refined copper imports from Jan 2016 to Feb 2017 9
Picture 7 China’s refined copper imports by major country from Jan 2016 to Feb 2017 9
Picture 8 China’s copper ore and concentrate imports by month from Jan 2016 to Feb 2017 10
Picture 9 China’s copper ore and concentrate imports by origin country from Jan 2016 to Feb 2017 11
Picture 10 China’s imports for copper scrap from Jan 2016 to Feb 2017 12
Picture 11 China’s copper scrap imports by country from Jan 2016 to Feb 2017 12
Table 1 China’s refined copper imports by country in Feb 2017 9
Table 2 China’s copper ore and concentrate imports by origin country in Feb 2017 11
Table 3 China’s major copper ore importers in Feb 12
Table 4 China’s copper scrap imports by country in Feb 2017 13
Table 5 China’s major importers for copper scrap 14
Table 6 Major Chinese copper concentrate importers in February 2017 16
Table 7 Major Chinese importers of refined copper in Feb 2017 21
Table 8 Major Chinese importers of copper scrap in Feb 2017 26
