Monthly Copper Market Report May 2024

Contents
1. Market Highlights 2
2. Economy and Policy 2
2.1 Economy and Policy 2
2.1.Asian Metal Copyright1.Asian Metal Copyright1 China's Jan-Apr production of ten nonferrous metals up by 7.1% YoY 2
3. Market Movements 2
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 Copyright3 Chinese copper concentrate producers' inventory up by 13.Asian Metal Copyright3 Chinese copper cathode 99.99%min price delivered 3
3.1.4 Chinese copper rod Ф8mm TC EXW 3
3.1.Asian Metal Copyright1.Asian Metal Copyright5 Chinese blister copper 98.5%min TC delivered 3
3.1.6 Chinese copper scrap wire 99%min price delivered 4
4. Company News 4
4.1 Sierra Metals reports growth in copper output in Q1 4
4.2 Xinchang Copper further cuts copper rod production 4
4.3 Jiangrun Copper further cuts copper rod output 4
4.4 Anglo American rejects BHP's third takeover proposal 4
4.5 Xinchang Copper further cuts copper rod production 4
4.6 Ironbark acquires stake in two copper projects in Queensland 4
4.7 KAZ Minerals posts decline in Q1 copper production 4
5. Producers Statistics 4
5.1 Chinese refined copper producers 4
5.1.Asian Metal Copyright63% YoY in Apr 2024 7 6.Asian Metal Copyright1 Chinese refined copper producers' operating rate up by 4.92% MoM in Mar 4
5.1.Asian Metal Copyright3 Chinese copper cathode 99.Asian Metal Copyright2 Chinese refined copper producers' output up by 4.92% MoM in Mar 5
5.1.Asian Metal Copyright1% YoY 2 3.Asian Metal Copyright3 Chinese refined copper producers' inventory up by 29.57% MoM in Mar 5
5.2 Chinese copper rod producers 5
5.2.Asian Metal CopyrightContents 1.Asian Metal Copyright1 Chinese copper rod producers' operating rate up by 31.21% in Mar MoM 5
5.2.Asian Metal Copyright92% MoM in Mar 5 5.Asian Metal Copyright2 Chinese copper rod producers' output up by 31.20% MoM in Mar 6
5.2.Asian Metal Copyright6 Ironbark acquires stake in two copper projects in Queensland 4 4.Asian Metal Copyright3 Chinese copper rod producers' inventory down by 26.37% MoM in Mar 6
5.3 Chinese copper concentrate producers 6
5.3.Asian Metal Copyright1 Sierra Metals reports growth in copper output in Q1 4 4.Asian Metal Copyright1 Chinese copper concentrate producers' operating rate up by 3.77% MoM in Mar 6
5.3.Asian Metal Copyright1 China's copper cathode Cu99.Asian Metal Copyright2 Chinese copper concentrate producers' output up by 3.56% MoM in Mar 7
5.3.Asian Metal Copyright92% MoM in Mar 4 5.Asian Metal Copyright3 Chinese copper concentrate producers' inventory up by 13.63% MoM in late Mar 7
6. Export Statistics 7
6.1 China's copper cathode (Cu<99.Asian Metal Copyright37% MoM in Mar 6 5.Asian Metal Copyright9935%) import volume grew 32.63% YoY in Apr 2024 7
6.2 China's copper concentrate import volume grew 11.67% YoY in Apr 2024 8
6.3 China's copper scrap import volume rose 55.56% YoY in Apr 2024 9


.Asian Metal Copyright2 Chinese refined copper producers' output up by 4Asian Metal Copyright