CHINA COPPER INSIGHT JULY: Overview of H1 2016

Chinese refined copper production in the first half of the year grew slower than in the corresponding period of last year, whilst Shanghai copper premiums were rangebound, Metal Bulletin assesses in this month’s insight.

China produced 4.03 million tonnes of refined copper during the first six months of the year, up by 7.6% year-on-year. First-half refined copper output in 2015 increased by 10.1% from the same period of 2014, according to data released by the Chinese National Bureau of Statistics (NBS) on Wednesday July 20. Metal Bulletin view: Output during the second half of the year will rise further because there are fewer planned maintenance works; meanwhile new capacity being brought online will allow for smoother production compared with the first half. A looser raw material market is also expected to keep smelters profitable and encourage production. Copper treatment and refining charges Metal Bulletin view: Metal Bulletin’s Copper Concentrate Index returned to a three-digit figure by the end of the first half due to the smoothest ever production activity from mines, as well as capacity ramp-ups mainly from Peru. We saw strong destocking activities from...

Published

Kiki Kang

August 01, 2016

12:16 GMT

Shanghai