Page 2 - Copper Cathode News Today

According SMM official website, intraday SMM 1# copper cathode spot premiums stood at around 350 yuan/mt, plunging by around 85% from 2,200 yuan/mt, a historical high recorded last Friday. Meanwhile, the backwardation of SHFE copper also weakened to some point.

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Copper prices surged to record new highs after the Chinese New Year (CNY) holiday, while the the price spread between copper cathode and copper scrap fluctuated vigorously. The tax-included price spread between 1# bare bright copper and copper cathode rose to the second highest on record of 3,779 yuan/mt on February 25. It touched an all-time high of 3,936 yuan/mt on February 22.  Please sign in to continue reading the full article for free Already registered? Sign in

How Toyota Tsushos Metalsplanet.com Will Be The New Gamechanger SECTIONS Last Updated: Feb 05, 2021, 02:42 PM IST Share Comment Last year, the outbreak of the Covid-19 pandemic had severely impacted the global automobile, construction, and electrical machinery industries, which together contribute 75-85% to the global non-ferrous metal demand. As a result, consumption of these metals had contracted significantly, ranging from 3 - 4% for copper and zinc, and up to 8 percent for aluminium on a Y-...

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An SMM survey showed that China produced 798,300 mt of copper cathode in January, falling 7.39% from December, but rising 9.97% from a year ago.

The recent coastal wind and waves at northern Chilean ports has caused an extensive delay in copper exports by Chile in January. Of several large and medium-scale ports in northern Chile that transport copper cathode and copper concentrates like Antofagasta, Mejillones, Iquique, Arica and Patache, four ports could not load copper cathode as large-scale vessels failed to call at ports, with the exception of the Antofagasta port.

As of January 21, 2021, the price spread between copper cathode and copper spread stood at a four-year high 3,202 yuan/mt, a gain of 249 yuan/mt from the previous day. However, premiums in the domestic spot market remained high amid continued declines in domestic copper cathode inventories, as the substitution of copper cathode with copper scrap weakened.