The overall domestic copper cathode output in May was at a low level due to the intensive maintenance. Although two smelters in Shandong resumed production in May, the production of copper did not resume.
According to SMM survey, domestic 1# silver output stood at 1,200.53 mt (including 1,035.53 mt of mineral silver) in May 2022, down 3.93% on the month, mainly because many producers carried out maintenance in May.
In the overseas market, the manufacturing and retail data released by the US continue to show poor results, and the possibilities of the European Central Bank's interest rate hike in July have increased.
The domestic copper cathode output in December stood at 870,300 mt, up 5.38% month-on-month (MoM) and 0.97% year-on-year (YoY). Generally speaking, many smelters have completed their maintenance, and some recovered quickly from accidents.