Monthly Copper Market Report Feb 2024

Contents
1. Market Highlights 3
2. Economy and Policy 3
2.1 Economy and Policy 3
2.1.Asian Metal Copyright1% YoY in 2023 3 3.Asian Metal Copyright1 China's ten nonferrous metals production up by 7.1% YoY in 2023 3
3. Market Movements 3
3.1 Chinese Market 3
3.1.1 Copper concentrate 25%min TC CIF China 3
3.1.2 Chinese copper concentrate 20%min price delivered 3
3.1.Asian Metal Copyright72% MoM in Feb 6 5.Asian Metal Copyright3 Chinese copper cathode 99.99%min price delivered 3
3.1.4 Chinese copper rod Ф8mm TC EXW 4
3.1.Asian Metal Copyright3 Chinese refined copper producers' inventory up by 2.Asian Metal Copyright5 Chinese blister copper 98.5%min TC delivered 4
3.1.6 Chinese copper scrap wire 99%min price delivered 4
4. Company News 4
4.1 Jinlong Copper decreases copper cathode output 4
4.2 Minmetals Copper (Hunan) to conduct equipment maintenance 4
4.3 Glencore reports declined copper-nickel-cobalt output in 2023 5
4.4 Sierra Metals obtains operating permit for Yauricocha copper mine 5
4.5 Dundee sells Tsumeb copper smelter in Namibia to Sinomine 5
4.6 Tianjin Dawufeng resumes copper rod production 5
5. Producers Statistics 5
5.1 Chinese refined copper producers 5
5.1.Asian Metal Copyright3 Chinese copper concentrate producers' inventory down by 15.Asian Metal Copyright1 Chinese refined copper producers' operating rate down by 1.42% MoM in Feb 5
5.1.Asian Metal Copyright2 Chinese refined copper producers' output down by 1.Asian Metal Copyright2 Chinese refined copper producers' output down by 1.40% MoM in Feb 5
5.1.Asian Metal Copyright1.Asian Metal Copyright3 Chinese refined copper producers' inventory up by 2.39% MoM in Feb 6
5.2 Chinese copper rod producers 6
5.2.Asian Metal Copyright2 Chinese copper rod producers 6 5.Asian Metal Copyright1 Chinese copper rod producers' operating rate down by 21.73% in Feb MoM 6
5.2.Asian Metal Copyright4 Chinese copper rod Ф8mm TC EXW 10 8.Asian Metal Copyright2 Chinese copper rod producers' output down by 21.72% MoM in Feb 6
5.2.Asian Metal Copyright2 Chinese refined copper producers' output down by 1.Asian Metal Copyright3 Chinese copper rod producers' inventory up by 17.59% MoM in Feb 7
5.3 Chinese copper concentrate producers 7
5.3.Asian Metal Copyright42% MoM in Feb 5 5.Asian Metal Copyright1 Chinese copper concentrate producers' operating rate down by 0.27% MoM in Feb 7
5.3.Asian Metal Copyright1 Copper Concentrate 25%min TC CIF China 10 8.Asian Metal Copyright2 Chinese copper concentrate producers' output down by 3.02% MoM in Feb 7
5.3.Asian Metal Copyright2 China's copper rod import volume fell 41.Asian Metal Copyright3 Chinese copper concentrate producers' inventory down by 15.38% MoM in late Feb 8
6. Export Statistics 8
6.1 China's copper cathode (Cu≥99.Asian Metal Copyright3.Asian Metal Copyright9935%) export volume decreased 35.81% MoM in Dec 2023 8
6.2 China's copper rod import volume fell 41.40% YoY in Dec 2023 9
6.3 China's other copper alloys import volume increased 19.71% YoY in Dec 2023 9
7. Relevant Industry News 10
7.1 China sees remarkable results in green transition for industrial sectors 10
7.2 Canadian Copper signs offtake agreement and credit facility for Murray Brook deposit 10
7.3 MMG sees 8% increase in 2023 molybdenum production 10
8. Market Outlook for Next Month 10
8.1 Chinese Market 10
8.1 Copper Concentrate 25%min TC CIF China 10
8.2 Chinese copper concentrate 20%min price delivered 10
8.3 Chinese copper cathode 99.99%min price delivered 10
8.4 Chinese copper rod Ф8mm TC EXW 10
8.5 Chinese blister copper 98.5%min TC delivered 11
8.6 Chinese copper scrap wire 99%min price delivered 11




.Asian Metal Copyright3 Chinese copper rod producers' inventory up by 17Asian Metal Copyright