Copper Market Report April 2012
2012-05-23 15:20:09 【Print】
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Contents
Introdution . 3
1 Financial overview . 4
1.1 Growth rate of CPI fell back in February . 4
1.2 PMI continued to increase and concerns on economic eased in March . 5
1.3 Economic growth rate decreased to 7.5% for the first time in the past 8 years in 2012 . 5
1.4 Greece finished bond replacement of EUR177.2b . 6
2 International market review . 6
2.1 Crude oil prices fell back due to easing situation in the Middle East . 6
2.2 US economy recovered slowly and USD to rebound . 7
2.3 Large difference occurred in gold market and prices decreased with fluctuations . 8
2.4 Copper in LME rebounds supported by favorable news . 9
3 Chinese domestic market overview . 11
3.1 Copper in SHFE keeps oscillation, and spot copper trading has no improvement . 11
3.2 Processing fees of imported copper concentrate keep stable . 12
4 Monthly production data . 12
4.1 53,000 tons remains over sufficient in global copper market of the first two months. . 12
4.2 Refined copper output data in China . 13
4.2.1 Chinese output of refined copper up by 8.5% YOY in March . 13
4.2.2 Production of refined copper in April in China regionally . 14
5 Imports and exports data . 14
5.1 Refined copper import data in China . 14
5.2 Copper mine import data in China . 15
5.3 Copper scrap import data in China . 16
6 Company news . 18
6.1 Shandong Jinsheng Group ready to start new copper smeltery production capacity . 18
6.2 Northern Copper under equipment maintenance . 18
6.3 Tongling Nonferrous Metals estimates output to increase by 50% in April . 19
6.4 Quanwei (Tongling) Copper estimates copper rod output to reduce 15% in April . 19
6.5 Huaxin Nonferrous Metal produces 27,000 tons of copper rod in April . 19
6.6 Xinke New Materials April reduces copper rod production by 23% MOM . 20
7 Related industry developments . 20
7.1 Copper scraps supply tight . 20
7.2 Copper rod market weak in China . 20
8 Outlooks for May . 20
Picture 1 CPI and PPI in 2011-2012 . 4
Picture 2 Manufacture industry handlers purchasing index in 2011-2012 in China . 5
Picture 3 Crude oil futures trend in March . 7
Picture 4 US dollar trend in March . 8
Picture 5 International gold price in March . 9
Picture 6 Copper in LME in April . 10
Picture 7 Copper in LME inventory in April . 10
Picture 8 Copper price in Chinese spot market in April . 11
Picture 9 Primary smelting fees of copper ore in April (USD/t) . 12
Picture 10 Refined copper output in March in China . 13
Picture 11 Chinese refined copper output of main origins in April . 14
Picture 12 Refined copper import volume in China . 15
Picture 13 Copper ore import volume in China . 16
Picture 14 Copper scrap import volume in China. 17
Introdution . 3
1 Financial overview . 4
1.1 Growth rate of CPI fell back in February . 4
1.2 PMI continued to increase and concerns on economic eased in March . 5
1.3 Economic growth rate decreased to 7.5% for the first time in the past 8 years in 2012 . 5
1.4 Greece finished bond replacement of EUR177.2b . 6
2 International market review . 6
2.1 Crude oil prices fell back due to easing situation in the Middle East . 6
2.2 US economy recovered slowly and USD to rebound . 7
2.3 Large difference occurred in gold market and prices decreased with fluctuations . 8
2.4 Copper in LME rebounds supported by favorable news . 9
3 Chinese domestic market overview . 11
3.1 Copper in SHFE keeps oscillation, and spot copper trading has no improvement . 11
3.2 Processing fees of imported copper concentrate keep stable . 12
4 Monthly production data . 12
4.1 53,000 tons remains over sufficient in global copper market of the first two months. . 12
4.2 Refined copper output data in China . 13
4.2.1 Chinese output of refined copper up by 8.5% YOY in March . 13
4.2.2 Production of refined copper in April in China regionally . 14
5 Imports and exports data . 14
5.1 Refined copper import data in China . 14
5.2 Copper mine import data in China . 15
5.3 Copper scrap import data in China . 16
6 Company news . 18
6.1 Shandong Jinsheng Group ready to start new copper smeltery production capacity . 18
6.2 Northern Copper under equipment maintenance . 18
6.3 Tongling Nonferrous Metals estimates output to increase by 50% in April . 19
6.4 Quanwei (Tongling) Copper estimates copper rod output to reduce 15% in April . 19
6.5 Huaxin Nonferrous Metal produces 27,000 tons of copper rod in April . 19
6.6 Xinke New Materials April reduces copper rod production by 23% MOM . 20
7 Related industry developments . 20
7.1 Copper scraps supply tight . 20
7.2 Copper rod market weak in China . 20
8 Outlooks for May . 20
Picture 1 CPI and PPI in 2011-2012 . 4
Picture 2 Manufacture industry handlers purchasing index in 2011-2012 in China . 5
Picture 3 Crude oil futures trend in March . 7
Picture 4 US dollar trend in March . 8
Picture 5 International gold price in March . 9
Picture 6 Copper in LME in April . 10
Picture 7 Copper in LME inventory in April . 10
Picture 8 Copper price in Chinese spot market in April . 11
Picture 9 Primary smelting fees of copper ore in April (USD/t) . 12
Picture 10 Refined copper output in March in China . 13
Picture 11 Chinese refined copper output of main origins in April . 14
Picture 12 Refined copper import volume in China . 15
Picture 13 Copper ore import volume in China . 16
Picture 14 Copper scrap import volume in China. 17
