LME plans to discuss possibility of banning Russian metals

According to people familiar with the matter, the London Metal Exchange will release a consultation document, marking the first step towards a new move towards a possible ban on Russian metal supply. Any ban could have a significant impact on the global metals market, as Russia is a major producer

Kaz Minerals 2022 Q2 copper production increases 0.1% YoY

Kaz Minerals' total copper production in the second quarter of 2022 was 90,000 tonnes, up 0.1% year-on-year and 15.5% sequentially.   Aktogay copper mine in Kazakhstan (100%) Total Aktogay copper production in Q2 2022 was 53,500 tonnes. Among them, the output of copper concentrate was 47,200 tonnes,

Customs: Strong copper import in Aug

For queries and more information/data/reports access, please contact Paula Xu at xuzhongping@mysteel.com                Data Source: Customs                   Data Source: Customs                   Data Source: Customs                   Data Source: Customs    

New energy vehicle copper consumption exceeds expectation

China Association of Automobile Manufacturers released August new energy vehicle production and sales of 691 thousand units and 666 thousand units, respectively, +12% and +12.3% MoM and +120% and +100% YoY.   Auto production recovered rapidly and remained strong growth since the second quarter with

Rio Tinto and McEwen Copper will jointly develop a Copper project in Nevada

McEwen Copper, a subsidiary of McEwen, has signed an agreement with Rio Tinto, making Rio one of the majority joint venture partners in the Elder Creek project in Nevada.   Kennecott Exploration, a subsidiary of Rio Tinto, will invest $18m over seven years. After that, the two companies will form an

Rio Tinto and Turquoise Hill: Enter into definitive acquisition Agreement

Rio Tinto and Turquoise Hill Resources have signed a definitive agreement to acquire the remaining shares of Turquoise Hill for $3.3 billion.   Turquoise Hill's independent directors unanimously recommended that the company's minority shareholders approve the deal.   "After extensive negotiations, t

Aug China copper concentrate and unwrought copper import both increased MoM

August China copper concentrate import was 2,270 kt,+19.5% MoM and +20.1% YoY. Jan-Aug import was 16,649 kt,+9.0% YoY.   August China unwrought copper and semis import was 498.2 kt,+7.4% MoM and +26.4% YoY. Jan-Aug import was 3,903.7 kt,+8.0% YoY.   Data Source: China Customs   Data Source: China Cu

Imported copper inflow increased, social inventory expects to keep rising

Since the second quarter of 2022, China domestic refined copper social inventory fell until the beginning of September. Mysteel data shows that Feburary refined copper social inventory reached highest of 220kt and decreased to 50.7kt on August 31. The decline was 169.3kt (-73.9%).   There are four r

Refined copper social inventory 80.7kt, +11.8kt compared with Sept. 1; bonded inventory 84kt, -16kt compared with Sept. 1

Refined copper social inventory was 80.7kt today, +22.3kt compared with August 29 and +11.8kt compared with September 1. Shanghai inventory was 57.9kt, +11.3kt compared with August 29 and +7.5kt compared with September 1. Guangdong inventory was 16.2kt, +9.3kt compared with August 29 and +4.2kt comp

Power supply tension to ease; Refined copper production into a high-yield period

Refined copper production in August decreased due to power supply issue. Mysteel adjusted August China refined copper output to 888.6kt from 918.6kt after power tightness happened. Data Source: Mysteel   Mysteel learnt that August power supply tightness mainly concentrated in Hubei, Yunnan, Anhui an