Monthly Copper Market Report Nov 2025

Contents
1 Market Highlights 1
2 Policy Briefs 2
2.1 China-U.Asian Metal Copyright3 Chinese copper rod producers' inventory down by 43.Asian Metal CopyrightS. trade talks in Kuala Lumpur deliver positive results 2
2.2 China to extend suspension of 24% tariff on U.Asian Metal Copyright2 Chinese copper rod producers' output down by 0.Asian Metal CopyrightS. goods 2
2.3 China's major ten nonferrous metals output up 3.1% in Jan-Oct 2
3 Market Movements 2
3.1 Chinese Market 2
3.1.1 Copper concentrate 25%min TC CIF China 2
3.1.2 Chinese copper concentrate 20%min price delivered 2
3.1.Asian Metal Copyright3 Chinese refined copper producers' inventory up by 4.Asian Metal Copyright3 Chinese copper cathode 99.99%min price delivered 2
3.1.4 Chinese copper rod Ф8mm TC EXW 3
3.1.Asian Metal Copyright27% MoM in Nov 4 5.Asian Metal Copyright5 Chinese blister copper 98.5%min TC delivered 3
3.1.6 Chinese copper scrap wire 99%min price delivered 3
4 Company News 3
4.1 Gejiu Xuzhong Nonferrous Metals Mining reduces copper cathode output 3
4.2 Glencore's copper output falls again, down 40% since 2018 3
4.3 Alara Resources Limited today announced its quarterly activities port for the period ending 30 September 2025 4
4.4 Capstone Copper reports third quarter 2025 results 4
4.5 Xinjiang Kunlun Blue Diamond Mining Development hikes copper rod output 4
4.6 JCC Huabei (Tianjin) Copper hikes copper rod output 4
4.7 Fujian Shanghang Sun Copper enhances copper rod production 4
5 Producers Statistics 4
5.1 Chinese refined copper producers 4
5.1.Asian Metal Copyright90% YoY in Oct 2025 7 .Asian Metal Copyright1 Chinese refined copper producers' operating rate up by 1.27% MoM in Nov 4
5.1.Asian Metal Copyright4 Capstone Copper reports third quarter 2025 results 4 4.Asian Metal Copyright2 Chinese refined copper producers' output up by 2.71% MoM in Nov 4
5.1.Asian Metal Copyright1 Chinese copper rod producers' operating rate up by 11.Asian Metal Copyright3 Chinese refined copper producers' inventory up by 4.54% MoM in Nov 5
5.2 Chinese copper rod producers 5
5.2.Asian Metal CopyrightContents 1 Market Highlights 1 2 Policy Briefs 2 2.Asian Metal Copyright1 Chinese copper rod producers' operating rate up by 11.22% in Nov MoM 5
5.2.Asian Metal Copyright4 Capstone Copper reports third quarter 2025 results 4 4.Asian Metal Copyright2 Chinese copper rod producers' output down by 0.40% MoM in Nov 5
5.2.Asian Metal Copyright1 Chinese refined copper producers 4 5.Asian Metal Copyright3 Chinese copper rod producers' inventory down by 43.70% MoM in Nov 6
6 Import Statistics 6
6.1 China's copper cathode (Cu<99.Asian Metal Copyright40% MoM in Nov 5 5.Asian Metal Copyright9935%) import volume fell 25.36% MoM in Oct 2025 6
6.2 China's bronze import volume grew 62.88% YoY in Oct 2025 7
7 Export Statistics 7
7.1 China's copper cathode (Cu≥99.Asian Metal Copyright2 China to extend suspension of 24% tariff on U.Asian Metal Copyright9935%) export volume rose 540.90% YoY in Oct 2025 7






.Asian Metal Copyright90% YoY in Oct 2025 7 Asian Metal Copyright