Exclusive: China's base metals output in January_SMM | Shanghai Non ferrous Metals
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.
Source: metal.com
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Shipments of copper from Chile to tighten after CNY due to coastal winds and waves_SMM
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.
Source: metal.com
Weaker-than-expected substitution of copper cathode with copper scrap despite wide price spread_SMM
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.
Source: metal.com