29 AUG 14 China may lose its position as the main price driver
In a column for Reuters, Clyde Russell suggested that China may lose its position as the main driver for copper prices, at least for the short term. Russell drew attention to the importance of demand from the rest of the world, which still makes up 55 per cent of copper demand.
27 AUG 14 Survey of Chinese non-wire rod users available
A 2014 Survey of Brass Mills, Copper Products and Foundries in China is now available from ICSG, covering over 300 plants and over 6 Mtpy capacity. The copper scrap versus refined copper balance in each sector is explored.
22 AUG 14 Copper market shows lower deficit to June 2014
The copper market recorded a deficit of 296 kt in January to June 2014 which follows a surplus of 388 kt in the whole of 2013, according to WBMS August figures. World mine production y/y was up 5.0 % to 9.23 Mt for the period, while global refined production y/y was up 2.7 % to 10.8 Mt.
21 AUG 14 Copper stocks down at exchanges
At the end of July, copper stocks held at the major metal exchanges (LME, COMEX, SHFE) totalled 270,038 t, down 236,466 t from end of December 2013 levels, stated ICSG in August. Compared with June 2014, stocks were down at the LME and up at COMEX and SHFE.
12 AUG 14 LME makes exchange dealings more transparent
The LME started publishing the Commitments of Traders Report (COTR) details of the positioning of its market players from 5 August 2014, including speculative financial investors, hedge funds, dealers and traders. The previous week’s five daily reports will appear every Tuesday.
6 AUG 14 New directory of copper mines and plants
The latest biannual Directory of Copper Mines and Plants that provides global facility-by-facility production capacity and summary country capacity through 2017 is now available from ICSG. Additional online data access is available according to ICSG terms.
24 JUL 14 Copper market in deficit to May 2014
The copper market recorded a deficit of 361 kt in January to May 2014 which follows a surplus of 402 kt in the whole of 2013, according to WBMS July figures. World mine production y/y was up 5.6 % to 7.69 Mt for the period, while global refined production y/y was up 2.9 % to 8.98 Mt.
23 JUL 14 Refined copper in deficit to April 2014
According to the July ICSG Press Release, the refined copper market balance for April 2014 showed an apparent deficit of 183 kt, seasonally adjusted to 152 kt. The seasonally adjusted refined copper balance for the first four months of 2014 was 381 kt in deficit.
9 JUL 14 MENA Region capacity survey now available
The International Copper Study Group now offers a 2014 Report on Middle East and North African refined copper and scrap copper use. The study covers 2.34 Mt of capacity, with significant Turkey and UAE capacity share.
24 JUN 14 Continued upwards trend in usage at start of 2014
In Q1 2014, world usage is estimated to have increased by around 14 % (365,000 t) compared with Q1 2013, according to ISCG June figures. Excluding China, world usage increased by around 4 % supported mainly by usage growth of 12 % in the EU and 16 % in Japan.
19 JUN 14 Copper market shows deficit for January to April 2014
The copper market recorded a deficit of 286 kt in January to April 2014 which follows a surplus of 404 kt in the whole of 2013, according to WBMS June figures. Reported stocks fell by 148 kt over the four months.
18 JUN 14 Forecast indicates three years of oversupply
Copper supplies are likely to exceed demand in 2014 and 2015, the scenario persisting for 2016 and 2017, said Zimtu Capital Corp.’s Global Copper Outlook in June, while USGS estimates 2013 global land based copper resources of over 3.1 bn tonnes.
17 JUN 14 USGS 2013 mine production estimate
In U.S. Geological Survey data on copper producing countries released in June, world 2013 mine production was estimated at 17.9 Mt, whilst U.S. mine production of copper in 2013 increased by 4 per cent to about 1.22 Mt.
27 MAY 14 Early growth in usage for 2014 seen
In the first two months of 2014, world usage is estimated to have increased by around 12 % year-on-year, according to ISCG May figures. Mine and concentrate production each rose 4 per cent, with a 5.5 per cent rise for SX-EW, by comparison.
23 MAY 14 Chilean copper price forecasts lower
Eighteen Chilean market experts surveyed by the Chilean copper commission Cochilco have cut their outlook for the 2014 copper price to US$ 3.07/lb, down 7 cents from the October survey, while the Chilean government has cut its copper price forecast to US$ 3.05/lb.
14 MAY 14 Copper market records deficit in January to March 2014
The copper market recorded a deficit of 127 kt in January to March 2014 which follows a surplus of 396 kt in the whole of 2013, according to WBMS May figures. Reported stocks fell by 26.1 kt during over the quarter.
17 APR 14 First quarter rod capacity utilisation in China
The average operating rate at China’s copper wire rod producers rose to 72.47 per cent in March 2014, up from 55.55 per cent in February and 67.29 per cent in January, due to improving consumption, recent SMM surveys showed.
15 APR 14 Survey predicts downward pressure on 2014 copper price
Copper prices are expected to remain under pressure in 2014 as the market posts a moderate supply/demand surplus, said Thomson Reuters’ GFMS Copper Survey 2014. The annual average price is set to stay below US $7,000 per tonne in 2014 for the first time since 2009.
14 APR 14 Dr. Phillip Mackey is expecting more megascale plants to be built
In an article in Copper Worldwide Vol 4 No 2 issue published in April, Dr. Phillip Mackey writes that at least one 400,000 t of Cu/year capacity smelter would be needed until 2025 to meet projected global demand. He also reviews recently commissioned smelters and their chosen technologies.
10 APR 14 NDRC seeks curbs on non-ferrous metal production
The National Development and Reform Commission (NDRC) in China is to intensify efforts to eliminate overcapacity in 10 major non-ferrous metals (including copper, aluminium, lead, zinc and nickel) in the latter half of 2014, according to Antaike. In the first 10 months of 2013, total output rose 10.3% y-o-y to 33.34 Mt.
8 APR 14 Insourcing back on the menu at CESCO Week
Delegates to the recent 13th World Copper Conference during CESCO Week in Santiago said they saw a trend towards insourcing from traditional outsourcing in Chile, fuelled by the current slowdown, and miners were again investing more in their own management and operational efficiency.
7 APR 14 Chile and Peru smelters need to up their SO2 gain
High levels of SO2 emissions in both Chile and Peru have forced both governments to act. In Chile, new specific SO2 emissions limits represent an increase in capture rate to 95%. New legislation in Peru similarly would require smelters to capture >95% of SO2 produced, according to a CRU Insight published on 4th April.
28 MAR 14 Zambia’s hydropower and renewable power projects in demand
Power Zambia from 24-25 June 2014 in Lusaka looks at a sector where demand rises by 100 MW annually and highlights hydropower projects. The Southern African Development Community’s 2027 vision for energy includes an estimated US$ 173 bn budget for power generating projects within the next 15 years.
12 MAR 14 Sell out CBM-TEC conference offers free extra sessions
The Copperbelt Mining Trade Expo and Conference (CBM-TEC) in Zambia’s mining hub Kitwe from 28-29 April 2014 is offering free-to-attend sessions on the exhibition floor for all visitors. The Conference is already sold out and there are over 80 exhibitors.
4 MAR 14 Exploration budget fell in 2013
The mining industryâ€™s total budget for nonferrous metals exploration was US$ 15.2 billion in 2013, being 29 % lower than the record US$ 21.5 billion total in 2012, according to SNL Metals & Miningâ€™s 24th edition of Corporate Exploration Strategies (CES).
28 FEB 14 ZIMEC event aims to safeguard Zambia’s growth
Copper mining accounts for 80% of Zambia’s foreign exchange earnings. Securing growth by ensuring the sustainable development of mineral/energy resources is the main theme of ZIMEC 2014 (4th Zambia International Mining & Energy Conference & Exhibition) from 24 - 25 June 2014 in Lusaka.
26 FEB 14 World apparent usage and Chinese demand
In the first eleven months of 2013, world apparent usage rose 3.5 % (654,000 t) year on year. Chinese apparent demand increased by 6.5% year on year, with a decline in net imports of refined copper of 290,000 t offset by an increase in refined production of around 650,000 t.
25 FEB 14 Mining sector funds resurgent in fourth quarter
Funds raised by the mining sector saw a near three-fold increase from the US$ 2.2 billion raised during the September quarter, to US$ 6.2 billion in the three months to the end of December 2013, according to the latest State of the Market report from SNL Metals & Mining.
24 FEB 14 Copper market figures to December 2013
The copper market recorded a surplus of 387 kt in January to December 2013 which follows a surplus of 250 kt in the whole of 2012, according to February WBMS figures. World mine production rose 7.2 % to 18.32 Mt for the period, while global refined production rose 5.3 % to 21.39 Mt.
18 Feb 14 Production rise in majority of firms
Global copper production increased 9 % in 2013 according to Barclays Capital, reports BNamericas. Only 19 of the 51 companies Barclays tracks reported a drop in production in 2013. Chile saw output climb 6 % and Codelco increased output 2 % to 1.79 Mt lasst year.
16 FEB 14 Disruptions low of 2013 expected to be reversed
In the five years to 2012, copper mine disruptions totalled 1 Mtpy or about 6 % of annual production. In 2013, the figure was 600 kt or 3 % of production, according to Wood Mackenzie. Around 40 % of 2014 mine supply growth will come from more susceptible greenfield projects.
ARCHIVED NEWS STORIES
23 JAN 14 ICSG copper usage estimate shows significant rise
World apparent copper usage is estimated to have increased by 3.8% (660,000 t), compared with the first ten months of 2013, according to the ICSG January 2014 Newsletter. Concentrate production increased by 10 % (1.06 Mt) and solvent extraction-electrowinning (SX-EW) by 2.7% (82,000 t) in the period. http://www.icsg.org
22 JAN 14 November 2013 figures see increased surplus
The copper market recorded a surplus of 375 kt in January to November 2013 which follows a surplus of 244 kt in the whole of 2012, according to WBMS January figures. Reported stocks fell by 134 kt during November and ended the month 88 kt lower than at the end of 2012. http://www.world-bureau.com
20 JAN 14 Exploration success varied in 2013
The countries with the top 10 exploration budgets in 2013 attracted a total of US$ 7.8 billion for all stages of gold, base metals, platinum group metals and uranium exploration, according to SNL Metals & Mining's annual Corporate Exploration Strategies study. http://www.snl.com/Sectors/MetalsMining/Default.aspx
16 JAN 14 New smelting and refining capacity projections for China in 2014
Smelting and refining capacity is still expanding in China, according to Beijing Antaike estimates in its Copper Monthly Newsletter. It estimated that smelting and refining capacity of 1 Mt and 1.05 Mt respectively will be added to the 5.89 Mt of smelting capacity and 10.01 Mt of refining capacity presently available by the end of 2014. http://www.antaike.com
7 JAN 14 Indonesian mineral ban takes effect
The Indonesian Government has implemented a ban on raw minerals exports after making temporary concessions, according to a WBMS Press Release in December. For 2013, the awaited total value of exports looks set to break through US$ 5 billion, as companies raced to beat the ban. http://www.world-bureau.com
6 JAN 14 Water continues to be a key issue for Chilean mining
A recent Cochilco report said that fresh water demand by the copper mining industry in Chile is set to grow by 38 % and reach 18 m3/sec by 2021, provided current desalination projects become operational. A draft bill to make mandatory the use of desalinated water in mining processes using over 150 l/s is under consideration to safeguard fresh water supply. http://www.cochilco.cl/english/
3 JAN 14 Chile and Peru forecasts
Business Monitor International forecasts that Chile's mining sector will grow at 16 % p.a. from 2014 - 2017. Major miners will continue to develop several large projects. Peru's mining sector will grow at an average of 4.4 % yearly to 2017 driven primarily by investment in both base and precious metals, but tempered by protests by local communities. communities. http://www.businessmonitor.com
2 JAN 14 CEEC initiative seeks to lower processing costs
The Coalition for Eco Efficient Comminution (CEEC) is a global initiative with the objective of lower processing costs as a result of improved comminution practices. Grinding and crushing accounts for 53% of mine site energy consumption, 10% of production costs, and 3% of global power generation.
23 DEC 13 Large increase seen in Nordic copper resources
According to the annual State of the Market: Nordic Region report from IntierraRMG, there was an almost ten-fold increase in new copper resources announced in the Nordic countries last year, compared with the tonnage unveiled in 2011. Finland and Sweden contributed a combined 82 per cent of the regionâ€™s copper exploration. http://www.intierrarmg.com
19 DEC 13 Present Chilean mine projects planned
Chile is expected to mine over 5.7 Mt of copper in concentrates and recoverable EW cathode during 2013. This equates to approximately 32% of global mined copper. CRU’s Chile mine database lists 17 projects with a combined capacity of over 1.7 Mt Cu equivalent by 2018. http://www.crugroup.com
18 DEC 13 Surplus to October 2013 increases
The copper market recorded a surplus of 442 kt in January to October 2013 which follows a surplus of 244 kt in the whole of 2012, according to WBMS December figures. World mine production rose 7.2% to 15.05 Mt, and refined output was up 6.4% to 17.8 Mt. http://www.world-bureau.com
12 DEC 13 LME assists metal traders with EMIR compliance
New product LMEwire will facilitate reporting of LME and OTC metals trades under the new European Market Infrastructure Legislation applicable from 12 February 2014, whereby all derivatives trades within the EU must be reported to a recognised trade repository. http://www.lme.com
10 DEC 13 Copper stock reported amid LME developments
The LME’s Monthly Prompt reports its copper warehouse stocks up 99,900 tonnes for the year to 30 November 2013, with a closing stock of 420,400 tonnes. CEO Garry Jones participated in a trade visit to China in December. LME’s Clearing operation is set to launch in October 2014. http://www.lme.com
6 DEC 13 Global initiative for lowering comminution costs
The Coalition for Eco Efficient Comminution (CEEC) is a global initiative with the objective of lower processing costs as a result of improved comminution practices. Grinding and crushing accounts for 53% of mine site energy consumption, 10% of production costs, and 3% of global power generation. http://www.ceecthefuture.org
4 DEC 13 Copper Worldwide has reporter at Copper 2013
For the first time since it commenced publication, Copper Worldwide has engaged the services of a Reporter at a major Copper event. The resulting Editorial will mainly appear in Vol 4 No 1 issue published in January 2014. http://www.copperworldwide.com/copper-worldwide-contact.htm
3 DEC 13 Report looks at state of China market
The Shanghai Metals Market China Copper Market Report 2013-14 says that as scrap copper supply is tight, semis producers switch to refined copper markets. The spot TC/RC for copper concentrate rose 40 per cent in H2 2014 with a rise in mine capacities. http://www.metal.com
22 NOV 13 Concentrate output showing ten per cent rise
World copper usage has increased by 1.9 % (266,000 t) compared with the first eight months of 2012, according to the ICSG November 2013 Newsletter. Concentrate production increased by 10 % (854,000 t) and solvent extraction-electrowinning (SX-EW) by 4% (89,000 t) in the period. http://www.icsg.org
20 NOV 13 Market in surplus to September 2013
The copper market surplus of 163 kt in January to September 2013 follows a surplus of 240 kt in the whole of 2012, according to WBMS November figures. World mine production rose 6.2% to 13.30 Mt, and refined output was up 5.2% to 15.76 Mt. http://www.world-bureau.com
29 OCT 13 Forecast spread of country GDP growth in 2013
The U.S. GDP is around USD 15.7 Tn, according to IMF 2013 figures, while the Eurozone is USD 12.2 Tn. Estimates of 2013 GDP % growth are: China 7.8, India 5.6, Mexico 3.4, Brazil 2.5, Russia 2.5, Canada 1.7, U.S. 1.6, and UK 0.9 per cent. http://www.prestigeeconomics.com
25 OCT 13 Smelter refits project increase forecast
Sulphur dioxide and acid plants will become a medium term defining feature for smelters, while the WHO 125 µg/m3 SO2 emissions limit will generally cause refits rather than closures, according to AME Group at the 2013 LME Metals Seminar. http://www.ame.com.au
21 OCT 13 China to become largest base metal consumer
China will outweigh the Rest of the World for base metals demand by 2017, becoming the single largest consumer of base metals. According to Wood Mackenzie forecasts, China will account for 52% of base metals demand by 2017, compared with 46% of the 96 Mt in 2013. http://www.woodmac.com
18 OCT 13 Copper market figures to August 2013
The copper market recorded a surplus of 195 kt in January to August 2013 which follows a surplus of 236 kt in 2012, according to the World Bureau of Metals Statistics. Chinese apparent consumption in the period rose by 221 kt to 6,052 kt, just under 44 per cent of global demand. http://www.world-bureau.com
14 OCT 13 Net concentrate surplus on the near horizon for China
China’s concentrate imports are expected to reach a record 2.63 Mt (28% rise yoy) contained Cu in 2013. In 2015-2017, the demand growth will be significantly slower than supply growth, giving a net surplus again, delegates at Copper Concentrates 2013 were informed. http://www.metalbulletin.com
27 SEP 13 ICSG Statistical Yearbook looks at 2003 - 2012 period
According to the ICSG’s 2013 Statistical Yearbook, world copper mine production rose by 21 % during the 10 year period 2003 - 2012 from 13.8 Mt in 2003 to 16.7 Mt in 2012: copper in concentrates rose by 18 % while SX-EW production rose by 35%. http://www.icsg.org/
20 SEP 13 Report indicates copper margins risk level in 2014
Wood Mackenzie has published a costs and margins report entitled 'Who hurts most' in which iron ore and zinc sectors perform best on average into 2014, while average industry margins fall to 39% for copper and 44% for gold, down from 49% and 50% respectively from 2012. http://www.woodmac.com
23 AUG 13 Lyons to address LME Metals Seminar
The LME Metals Seminar 2013 on 7 October 2013 expects 500 international delegates. Keynote Speaker will be Dr Gerard Lyons, Chief Economic Advisor to Boris Johnson, the Mayor of London. http://www.lme.com/news-and-events/events/metals-seminar/
22 AUG 13 World refined production up 5.3% over H1 2012
World refined copper production for period Jan-Jun 2013 reached 10.502 Mt, with China at 3.234 Mt. China’s semis output rose 26.7% y-o-y to 6.849 Mt for the period, according to WBMS August data. http://www.world-bureau.com
13 AUG 13 Semis demand slowed down in 2012
Chinese copper alloy and copper alloy semis demand reached 9.970 Mt in 2012, a rise of just 0.13% from 2011, while European demand fell 5.01% to 3.883 Mt by comparison, according to IWCC figures. http://www.coppercouncil.org
5 AUG 13 Big drop in overall finance support for mining activity
The mining finance environment became even more difficult in Q2 2013. Only US$ 2.28 billion was received, compared with US$ 5.16 billion in Q1 2013 and US$ 6.12 billion in Q2 2012, an IntierraRMG report says. http://www.intierrarmg.com/Homepage.aspx
29 JUL 13 Copperbelt conference in timely fourth outing
The African Copper IV Conference took place on 25-26 September 2013 in Lusaka, Zambia. http://www.metalbulletin.com/EventDetails/0/5923/African-Copper-Conference.html
26 JUL 13 New laboratory to capitalise on analysis market growth
In response to expected growth to US$ 3.8 billion during 2013-2015 in the global testing and analysis market of copper, lead and zinc, Alex Stewart International have opened a new metals laboratory in Liverpool, England. http://www.alexstewartinternational.com/news.html
17 JUL 13 China output growth boosts world refined production
World refined production for the period January to May 2013 rose 5.55% to 8.782 Mt, while China’s output was 2.672 Mt, a rise of 17.33% year on year, according to WBMS July data. http://www.world-bureau.com
1 JUL 13 New proposal to cut metal warehouse queues
The LME has launched a consultation on a proposal designed to cut ‘over 100 calendar day’ warehouse queues. If adopted, new rules could come into force on 1 April 2014. http://www.lme.com/
27 JUN 13 Two major events combine again for 2015
The 8th European Metallurgical Conference EMC 2015 will be held from 14-17 June 2015 in the CCD Düsseldorf Süd concurrent with GIFA/METEC/THERMPROCESS/NEWCAST 2015 which will run from 16-20 June 2015. http://www.emc.gdmb.de
25 JUN 13 Refined figures to April indicate surplus
The WBMS June 2013 release showed Jan-Apr 2013 global refined production at 6.954 Mt against consumption of 6.735 Mt, a surplus of 218.7 kt. China refined production rose 16.8% to 2.104 Mt for the period. http://www.world-bureau.com
24 JUN 13 Hydrometallurgy thriving on niche leaching applications
In his Plenary Lecture at EMC 2013 on 24 June, David Bruce Dreisinger, Professor at the University of British Columbia, said hydrometallurgy has yet to challenge the smelter monopoly treating 80% of concentrates. http://www.emc.gdmb.de/
21 JUN 13 Wire and cable sector was the focus in Berlin
CRU’s Cables Industry Analyst provides coverage from CRU’s 7th annual Wire & Cable Conference which took place from 10-12 June in Berlin, Germany. Over 200 delegates attended from 32 countries.
19 JUN 13 First half year still seeing disruptions
Disruptions were still a factor in 2013, according to the Wood Mackenzie Speaker at the 2nd Copper Recycling Conference. The refined consumption 2013 forecast is 5% growth. http://www.woodmacresearch.com/
16 JUN 13 Leadership seminar features at Exponor Chile
A seminar on ‘Improving Leadership and Competitiveness in the Mining Industry’ is one of the highlights of Exponor Chile 2013 exhibition organised by the Antofagasta Industrial Association (AIA). http://copperworldwide.com/www.exponor.cl
15 JUN 13 The Copper Worldwide 2013 Copperbelt Wallmap
A new detailed map of Copperbelt installations in DR Congo and Zambia has been published by Copper Worldwide magazine. Further copies of the Wallmap are now available to purchase. Please enquire via Webform or direct.
4 JUN 13 Scrap tightness boosts China cathode premiums
CRU’s Copper Monitor reports that the downward shift in the copper price has led to a scarcity of scrap, causing certain Chinese smelting facilities to close. http://www.crugroup.com/
3 JUN 13 LME launches ‘The Monthly Prompt’ Newsletter
A new monthly e-newsletter is now available from the LME. It will include news, trading highlights and a monthly overview report. http://www.lme.com/
23 MAY 13 Higher production but higher stocks in first quarter indicated
World ore and Cu in concentrate production has risen 7.2% to 4,255.6 kt in Q1 2013 relative to the same period in 2012, according to World Bureau of Metal Statistics data released in May. http://www.world-bureau.com
21 MAY 13 European Minerals Day from 24-26 May 2013
European Minerals Day 2013 takes place from 24-26 May. In 2011, over 180 sites in 21 European countries took part. http://www.mineralsday.eu/
15 MAY 13 New report tracks mine funding fall
Funds raised by the mining sector in Q1 2013 dropped almost 24% to under US$ 5.2 billion from almost US$ 6.8 billion in Q4 2012, according to intierraRMG’s new State of the Market report. http://www.intierraRMG.com
6 MAY 13 'Cu in the water' features in Copper Worldwide Vol 3 No 2 issue
The current status of deep-seabed mining for copper and other minerals is looked at in the leader for the Vol 3 No 2 issue published in April 2013. Register or Subscribe (Producer or Supplier). Please enquire via Webform or direct.
26 APR 13 ICSG Copper Market Forecast for 2013-2014
According to ICSG projections released in April, 2013 refined copper production is expected to have a 415 kt surplus relative to demand, is expected to grow by 4.3% to 20.98 Mt, and further growth of 5.1% is anticipated for 2014. http://www.icsg.org/
2 APR 13 Cochilco starts weekly World Copper Market Review
Week 16 - China’s GDP grew 7.7% in Q1, surprising markets expecting an 8% rise. The IMF reduced its growth expectations for China in 2013 by 0.1% to 8% and cut its global growth forecast by 0.2% to 3.3%. http://www.cochilco.cl/english/
7 APR 13 Copper market records small surplus in 2012
The world copper market recorded a surplus of 34 kt in 2012 against a surplus of 241.6 kt in 2011, according to WBMS April data. The three months to February 2013 have each recorded a surplus. http://www.world-bureau.com
15 APR 13 New events held at CESCO Week 2013
Apart from the 12th World Copper Conference organised by CRU Events, CESCO Week 2013 featured ‘Mining and Sustainable Development’, ‘Molybdenum Market Forum’, 2nd Sulphuric Acid Seminar and 2nd Mining, Energy and Water Summit.
12 APR 13 Thomson Reuters GFMS Copper Survey 2013 launch in Santiago
The Copper Survey 2013 estimates global mine production grew by 4% to 16.669 Mt in 2012, refined copper supply rose 2% to 20.059 Mt, scrap-based production was up 3% to 3.596 Mt, and SX-EW output rose 4% to 3.627 Mt.