Copper Market Report February 2014
2014-03-21 17:37:50 【Print】
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Content
Introduction 4
1 Financial overview 4
1.1 Domestic financial overview 4
1.1.1 CPI rises by 2.5% YOY, PPI declines by 1.6% YOY in January 4
1.1.2 PMI continues to fall in February 5
1.2 International financial overview 6
1.2.1 Frigid weather in North America boosts rebound of crude oil future price 6
1.2.2 US dollar index weakens unexpectedly 7
2 International market overview 8
2.1 Copper futures on LME fluctuate within a wide range 8
2.2 Copper inventories on LME decline 9
3 Chinese domestic market overview 9
3.1 Copper prices in China decline 9
3.2 Copper concentrate market goes down 10
3.3 Copper rod prices decrease significantly 11
3.3.1 Operating rate of Chinese major copper rod plants in February down by 20% MOM 12
3.3.2 Copper rod stocks in Chinese major plants down by 9% MOM in February 13
3.4 Copper scrap prices decline 14
4 Monthly production data 14
4.1 Global refined copper output analysis 14
4.1.1 Global copper in surplus of 387,000t in 2013 14
5 Import and export data 14
5.1 Chinese copper imports in January up by 27% MOM 14
5.2 Chinese January imports of copper ore up by 37% YOY 15
5.3 Chinese imports of copper product in January up by 4% MOM 16
5.4 Chinese imports of copper scrap in January down by 19% MOM 17
6 Company news 19
6.1 Copper refineries 19
6.1.1 Freeport declares force majeure for copper concentrate delivery in Grasberg 19
6.1.2 Trafigura to buy 30% of Jinchuan copper smelter 19
6.1.3 Zijin Copper runs fully 20
6.1.4 Yuguang Gold & Lead puts its 100,000tpy copper project into production 20
6.2 Copper rod plants 20
6.2.1 Jiangrun Copper February copper rod production down by 50% MOM 20
6.2.2 Huaxin Nonferrous Metal copper rod output down by 20% in February 20
6.2.3 Shimao Copper comes on stream 20
7 Related industry developments 21
7.1 National State Grid in 2014 to exceed 380 billion yuan 21
7.2 China Jan-Feb property investment slows, sales drop 21
8 Outlook for March 22
Introduction 4
1 Financial overview 4
1.1 Domestic financial overview 4
1.1.1 CPI rises by 2.5% YOY, PPI declines by 1.6% YOY in January 4
1.1.2 PMI continues to fall in February 5
1.2 International financial overview 6
1.2.1 Frigid weather in North America boosts rebound of crude oil future price 6
1.2.2 US dollar index weakens unexpectedly 7
2 International market overview 8
2.1 Copper futures on LME fluctuate within a wide range 8
2.2 Copper inventories on LME decline 9
3 Chinese domestic market overview 9
3.1 Copper prices in China decline 9
3.2 Copper concentrate market goes down 10
3.3 Copper rod prices decrease significantly 11
3.3.1 Operating rate of Chinese major copper rod plants in February down by 20% MOM 12
3.3.2 Copper rod stocks in Chinese major plants down by 9% MOM in February 13
3.4 Copper scrap prices decline 14
4 Monthly production data 14
4.1 Global refined copper output analysis 14
4.1.1 Global copper in surplus of 387,000t in 2013 14
5 Import and export data 14
5.1 Chinese copper imports in January up by 27% MOM 14
5.2 Chinese January imports of copper ore up by 37% YOY 15
5.3 Chinese imports of copper product in January up by 4% MOM 16
5.4 Chinese imports of copper scrap in January down by 19% MOM 17
6 Company news 19
6.1 Copper refineries 19
6.1.1 Freeport declares force majeure for copper concentrate delivery in Grasberg 19
6.1.2 Trafigura to buy 30% of Jinchuan copper smelter 19
6.1.3 Zijin Copper runs fully 20
6.1.4 Yuguang Gold & Lead puts its 100,000tpy copper project into production 20
6.2 Copper rod plants 20
6.2.1 Jiangrun Copper February copper rod production down by 50% MOM 20
6.2.2 Huaxin Nonferrous Metal copper rod output down by 20% in February 20
6.2.3 Shimao Copper comes on stream 20
7 Related industry developments 21
7.1 National State Grid in 2014 to exceed 380 billion yuan 21
7.2 China Jan-Feb property investment slows, sales drop 21
8 Outlook for March 22
