SHANGHAI, Apr 27 (SMM) – In the non-ferrous metals space, copper is an important metal in the China metals market, and is widely traded in the international stock exchanges.
The SMM Copper Concentrate Index, which was launched in October 2019, has gained traction and is used by key producers and physical traders as a term contract settlement. Market participants in China are also using the SMM Copper Concentrate Index for a reference in trades.
In 2018 and 2019, smelting capacity at the domestic market totalled 1.35 million mt, while the increase of domestic copper production was limited. The dependence on overseas raw materials from the domestic smelters continued to increase.
China is currently facing a serious problem of domestic raw material shortage, as the coronavirus outbreak has triggered transport and shipping restrictions at copper mines in South America, a key supplier of copper raw materials to China.
On the other hand, as China aims to cut imports of “solid waste” to zero by the end of 2020, reduction of import quotas has also weighed on the supply of copper scrap. Furthermore, China is likely to reduce import quotas for copper scrap by half in 2020, with full-year volumes equating to about 50% of actual imports in 2019. What will happen to the demand/supply situation?
We are pleased to present you with the SMM Copper Raw Materials Market Report– a monthly update of the changes of demand/supply of the China copper raw materials industry chain.
In this report, we provide you with a deep-dive of the copper raw materials market, as our analysts conduct detailed surveys on the operating rates, output, capacity, treatment charges on the copper concentrate, blister copper, refined copper and the copper scrap markets, with easy to read tables and charts. We also cover the latest updates across the copper smelting and sulphuric acid markets to give you a comprehensive overview of the copper raw materials industry chain.