Monthly Copper Market Report May 2018

Contents
1 Market Highlights 4
2 Economy and Policy 4
2.1 Chinese Market 4
2.2 International Market 4
3 Market Movements 4
3.1 Chinese Market 4
3.1.1 Copper cathode price fluctuates slightly 4
3.1.2 Copper concentrate price fluctuates slightly 5
3.1.3 Copper rod producers' operating rate down 5
3.1.4 12th and 13th lists of import quota issued 5
3.2 International Market 5
3.2.1 LME copper price fluctuate within narrow range 5
3.2.2 LME copper inventory declines sharply 6
4 Company News 6
4.1 Truchum Advanced Materials and Xinhai Copper to jointly develop copper conductor for new energy car 6
4.2 Zhongbang Mining resumes mining of copper ore 6
4.3 Qinghai Copper's 100,000tpy copper cathode project goes into pilot production 6
4.4 TNMG Ausmelt Furnace project completed 6
4.5 Yulong Copper to construct 2nd phase of renovated and expanded project in 2018 6
4.6 Dianjiang to build 120,000tpy secondary copper project 6
5 Producer Statistics 7
5.1 Chinese refined copper output up by 6.9% YOY in May 2018 7
5.2 Chinese refined copper producers' inventory up by 5.7% MOM in late May 2018 7
5.3 China's low-oxygen copper rod output down by about 1.9% MOM in May 2018 7
5.4 Chinese low-oxygen copper rod producers' inventory down by 7.6% in late May 2018 8
6 Relevant Industry News 8
6.1 Real Estate 8
6.2 Automobile 8
7 Market Outlook for Next Month 9





Graph Content
Graph 1 Spot copper price in Chinese market from Apr to May 2018 (RMB/t) 4
Graph 2 Premiums for spot copper in Shanghai from Apr to May 2018 (RMB/t) 5
Graph 3 Premiums for spot copper in Guangzhou from Apr to May 2018 (RMB/t) 5
Graph 4 Spot copper concentrate price trend in China from Apr to May 2018 (RMB/metal ton) 5
Graph 5 LME 3-month copper price trend from Apr to May 2018 6
Graph 6 LME copper inventory from April to May 2018 (ton) 6
Graph 7 Chinese refined copper output by month from Jan 2017 to May 2018 (kt) 7
Graph 8 Chinese refined copper output by month and region from Jan 2017 to May 2018 (kt) 7
Graph 9 Chinese refined copper producers' inventory by month from Jan 2017 to May 2018 (kt) 8
Graph 10 Chinese refined copper producers' inventory by province by month from Jan 2017 to May 2018 (kt) 8
Graph 11 Chinese low-oxygen copper rod producers' output by month from Jan 2017 to May 2018 (kt) 8
Graph 12 Chinese low-oxygen copper rod producers' output by month and province from Jan 2017 to May 2018 (kt) 8
Graph 13 Chinese low-oxygen copper rod producers' inventory by month from Jan 2017 to May 2018 (kt) 9
Graph 14 Chinese low-oxygen copper rod producers' inventory by region by month from Jan 2017 to May 2018 (kt) 9


.Asian Metal Copyright1 Chinese Market 4 3Asian Metal Copyright