Copper Market Report May 2014
2014-06-19 18:15:22 【Print】
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Contents
Introduction 4
1 Financial overview 4
1.1 Domestic financial overview 4
1.1.1 CPI up by 1.8%, PPI down by 2.6% YOY in April 4
1.1.2 PMI keeps rebounding in May 5
1.2 International financial overview 5
1.2.1 Future prices of crude oil rebound slightly 5
1.2.2 US index higher 6
2 International market overview 7
2.1 Copper futures climb on LME 7
2.2 Copper inventories on LME continue to fall 8
2.3 Copper scrap market still tight in Europe 9
3 Chinese domestic market overview 9
3.1 Copper prices in China fluctuate widely, premiums decline sharply 9
3.2 Copper concentrate market rallies 11
3.3 Copper rod market unchanged, processing charges fall 11
3.3.1 Operating rate of Chinese main copper rod plants in May by 1% MOM 12
3.3.2 Copper rod stocks at China’s main plants up by 36% MOM by end of May 12
3.4 Copper scrap prices rally 13
4 Monthly production data 13
4.1 Global refined copper output analysis 13
4.1.1 Global refined copper market in deficit by 127,000t in Jan-Mar 13
5 Import data 14
5.1 Chinese copper imports in April up by 5% MOM 14
5.2 Chinese imports of copper ore in April up by 7% MOM 16
5.3 Chinese imports of copper products in April up by 2% MOM 17
5.4 Chinese imports of copper scraps in April up by 5% MOM 18
6 Company news 21
6.1 Copper refineries 21
6.1.1 Southern Copper to produce 800,000t of copper in 2014 21
6.1.2 Jinlong Copper reduces production for maintenance 21
6.2 Copper rod plants 21
6.2.1 Ruixin Copper to start trial production in July 21
6.2.3 Xinke New Material May copper rod output down by 27% MOM 22
7 Related industry developments 22
7.1 Eight extra-high voltage passages approved to commence operation before end of 2017 22
7.2 Decreasing trading volumes within Chinese housing market in May 22
8 Outlook for June 22
Introduction 4
1 Financial overview 4
1.1 Domestic financial overview 4
1.1.1 CPI up by 1.8%, PPI down by 2.6% YOY in April 4
1.1.2 PMI keeps rebounding in May 5
1.2 International financial overview 5
1.2.1 Future prices of crude oil rebound slightly 5
1.2.2 US index higher 6
2 International market overview 7
2.1 Copper futures climb on LME 7
2.2 Copper inventories on LME continue to fall 8
2.3 Copper scrap market still tight in Europe 9
3 Chinese domestic market overview 9
3.1 Copper prices in China fluctuate widely, premiums decline sharply 9
3.2 Copper concentrate market rallies 11
3.3 Copper rod market unchanged, processing charges fall 11
3.3.1 Operating rate of Chinese main copper rod plants in May by 1% MOM 12
3.3.2 Copper rod stocks at China’s main plants up by 36% MOM by end of May 12
3.4 Copper scrap prices rally 13
4 Monthly production data 13
4.1 Global refined copper output analysis 13
4.1.1 Global refined copper market in deficit by 127,000t in Jan-Mar 13
5 Import data 14
5.1 Chinese copper imports in April up by 5% MOM 14
5.2 Chinese imports of copper ore in April up by 7% MOM 16
5.3 Chinese imports of copper products in April up by 2% MOM 17
5.4 Chinese imports of copper scraps in April up by 5% MOM 18
6 Company news 21
6.1 Copper refineries 21
6.1.1 Southern Copper to produce 800,000t of copper in 2014 21
6.1.2 Jinlong Copper reduces production for maintenance 21
6.2 Copper rod plants 21
6.2.1 Ruixin Copper to start trial production in July 21
6.2.3 Xinke New Material May copper rod output down by 27% MOM 22
7 Related industry developments 22
7.1 Eight extra-high voltage passages approved to commence operation before end of 2017 22
7.2 Decreasing trading volumes within Chinese housing market in May 22
8 Outlook for June 22
