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Highlights of international Copper market
Highlights of Chinese Copper market
Chinese Copper Prices
Chinese Copper Material Supplies
Chinese Refined Copper Production
Import and Export of Copper
Market Balance and Price Outlook
Table 1 Average price of copper on LME and SHFE in Q4
Table 2 Global Refined Copper Market Balance in 2008-2011
Table 3 China Copper Concentrate Market Balance in 2008-2011
Table 4 Import and Export of Copper Raw Materials in 2008-2010
Table 5 Net Import of Copper Products in 2009/2010
Table 6 Main Destinations for Imported Copper Blister in Jan-Nov 10
Table 7 Main Destinations for Imported Copper Scraps in Jan- Nov 10
Table 8 Main Destinations for Imported Copper Conc. in Jan- Nov 10
Table 9 Smelting/refining capacity of Chinese key copper producers
Table 10 Chinese Smelting/Refining Production in 2008-2010
Table 11 Mine copper production in China by major province/region in Jan-Nov 2010
Table 12 Output of Major Copper Producers in 2008-2010
Table 13 Import and Export of refined copper in 2008-2010
Table 14 Import of Refined Copper by Destination in Jan-Nov 10
Table 15 Output of Main Downstream Products in 2008-2010
Table 16 Chinese Refined Copper Consumption in 2010
Table 17 China Copper Concentrate Market Balance in 2008-2011
Table18 China Refined Copper Market Balance in 2008-2011
Chart 1 Open Interest on World's Top Three Nonferrous Metals Exchanges
Chart 2 Inventory and 3-m Copper Price on LME
Chart 3 Sulfuric Acid Price in China 2008-2010
Chart 4 Monthly Import of Copper Blister in 2005-2010
Chart 5 Monthly Import of Copper Scrap in 2005-2010
Chart 6 Monthly Import of Copper Concentrates in 2005-2010
Chart 7 Monthly Import of Copper in 2005-2010
Highlights of international copper market
The average price of LME cash month copper and three month copper in Q4 was US$ 8,719/t and US$ 8,618/t respectively, up by 20.4% and 18.7% Q-o-Q, while up by 31.2% and 29.1% y-o-y. The average price was US$ 7,449/t and US$ 7,550/t respectively for the whole year of
2010, up by 44.7% and 46.0% y-o-y.
The open interest of copper at three major Exchanges increased in Q4 2010. The increase of LME copper open interest was very obvious. It reached 300 thousand lots in November and 314.6 thousand lots in December.
Global refined copper demand and consumption falls back in Q4
The global copper production kept stable in Q4, and the volume was 4.61 million tonnes, down by 1.1% Q/Q. During the same period, global copper consumption fell back to 4.55 million tonnes, down by 1.9% Q/Q. It is estimated the world copper output is 18.53 million ton in 2010, up by 2.5% y/y. Copper consumption was 18.49 million ton, up by 6.9% y/y. The supply and demand of world copper is basically balanced in 2010.
Seen from the main copper production regions, the growth mainly came from China, Zambia and Japan, about 460kt, 85kt and 80kt, respectively. In addition, the output from Germany, Poland and South Korea increased slightly. However, output from the world second largest copper producer Chile dropped down. The USA and Australia also reduced the copper output.
China still leads the growth of copper consumption. Some developed countries, like the USA, Japan and Germany, also contributed much to the consumption. Thus the world copper consumption increased sharply in 2010 against 2009.