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Domestic electrolytic copper supply and demand are both strong, while the resumption of production on the supply side puts pressure on aluminum prices.

Domestic electrolytic copper supply and demand are both strong, and the resumption of production on the supply side has suppressed aluminum prices

11

2023

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08

Indonesia to Continue Developing Local Nickel and Copper Smelting Projects. The government of Indonesian President Joko Widodo (Jokowi) has a flagship plan, namely downstream mining.

Indonesia will continue to develop local nickel and copper smelting

26

2023

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07

Refractory materials for electrolytic copper melting furnaces

Refractory materials for electrolytic copper melting furnaces

There are many types of electrolytic copper melting furnaces (also known as cathode furnaces), including reverberatory furnaces and vertical furnaces that use heavy oil as fuel, as well as arc furnaces and induction furnaces. The figure shows a schematic diagram of the structure of a copper melting reverberatory furnace, and the table shows the refractory materials used in reverberatory furnaces and vertical furnaces.

09

2021

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09

Tight supply of sulfuric acid in Chile impacts electrolytic copper production

Tight supply of sulfuric acid in Chile impacts electrolytic copper production

According to foreign media reports, the spot price of sulfuric acid has soared due to tight supply, affecting Chile's electrolytic copper production. Codelco's Gabriela Mistral copper mine saw a 40% decrease in production during the first quarter of 2021. The sulfuric acid shortage is attributed to a shortage of sulfur caused by slower refining speeds during the pandemic, coupled with the gradual recovery of Asian industry, resulting in most sulfuric acid produced being consumed locally, limiting exports to Chile. Although some Chilean smelters produce sulfuric acid as a byproduct, the widely used solvent extraction-electrowinning (SX-EW) technology consumes large amounts of sulfuric acid. Given the sulfuric acid shortage, combined with labor negotiations risks and the pandemic, it is difficult for Chile to maintain high levels of copper production. Furthermore, Cochilco stated that if the sulfuric acid shortage worsens, it could affect 12% of Chile's copper production.

09

2021

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09

Mysteel Copper Morning Meeting Minutes 20210903

Mysteel Copper Morning Meeting Minutes 20210903

Macroeconomic Overview Overnight, the US released economic data that generally exceeded expectations. A $3.5 trillion tax and spending plan was halted. The US Strategic Petroleum Reserve will release 1.5 million barrels of oil. New York City declared a state of emergency due to severe storms. Powell received support from a key Democratic member of the House of Representatives. The Bank for International Settlements is conducting a central bank digital currency experiment with four countries. Xi Jinping stated the need to deepen the reform of the New Third Board and establish the Beijing Stock Exchange. The Dalian Commodity Exchange raised the margin requirements for futures contracts of coking coal and coke. Electrolytic Copper Due to uncertainties such as delays in shipping schedules and the scarcity of shipping containers, even with the opening of the import window earlier, arrivals remain limited. A small amount of imported goods arrived yesterday, causing a slight increase in inventory, but this is still insufficient to alleviate the tight inventory situation. Copper Materials Copper plates and strips: Yesterday, copper prices fell sharply. At a Shandong copper plate and strip company, the transaction price of T2 copper strip was 73,900-74,200 yuan/ton, and the transaction price of H62 brass strip was 56,500-56,800 yuan/ton, with an order volume of 130 tons, a 30% increase compared to the previous period. The strong purchasing sentiment from end-users and the active participation of traders resulted in considerable transactions. A copper plate and strip company in Jiangxi received orders of 250 tons yesterday, an increase of 40 tons compared to the previous day. The drop in copper prices stimulated demand from end-users and traders, leading to an overall improvement in transactions. The sales manager of this company stated that the drop in copper prices stimulated the release of demand, and they believe that demand still exists. They also stated that the continuous rise in copper prices is a short-term phenomenon and will return to normal under government regulation, with copper prices maintaining stable operation. Copper rods: In Jiangsu, the market transactions for refined copper rods were generally low yesterday, with order volumes significantly lower than the previous day. The continuous decline in copper prices yesterday led to a shift in downstream sentiment, with an increase in bearish sentiment. Therefore, cable companies mostly adopted a wait-and-see attitude, purchasing sentiment was generally low, market trading activity weakened, and purchases were mainly on an as-needed basis. A recycled copper rod company in Hubei reported transactions of 352 tons yesterday at a transaction price of 69,100 yuan/ton (self-pickup). The sales staff stated that due to no shipments the day before, they offered a lower price yesterday, and downstream end-users actively purchased. The current purchase volume exceeds expectations, and they may control the shipment volume today. In the recycled copper rod market, due to the continued price decline yesterday, some manufacturers offered low prices in the morning. Today, cable companies showed slightly improved acceptance of market prices, and the overall purchase volume increased by about 50%-60% compared to the previous day. Recycled copper rod manufacturers are mainly concerned about further price declines tomorrow, so they converted some funds at a relatively high position yesterday to use for the purchase of recycled copper raw materials later. For more exciting content, please follow the Baijiahao account 【Steel Union Nonferrous Metals】 Mysteel's published original and reprinted content is for customer reference only and does not constitute decision-making advice. The copyright of original content belongs to Mysteel. Reprinting requires written authorization from Mysteel, and Mysteel reserves the right to pursue any infringement and any citation that contradicts the original meaning of the original content. The reprinted content comes from the Internet. The purpose is to convey more information, facilitate learning and communication, and does not represent Mysteel's agreement with its views or its responsibility for its authenticity and completeness. For authorization applications and complaints, please contact Mysteel (021-26093397) for processing.

09

2021

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09

Copper, aluminum, and iron prices plummet! Discussing the future trend of copper prices based on recent changes in copper inventories

Copper, aluminum, and iron prices plummet! Discussing the future trend of copper prices based on recent changes in copper inventories

Price crash alert! Copper, rebar, and iron ore prices plummet!

09

2021

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09

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