Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US-based Ames Copper has roped in SMS group to supply a 50,000mt copper anode plant in Shelby, North Carolina. This plant will be the first recycling-based copper anode manufacturing facility in the US. Ames is a jointly owned by Prime Materials Recovery Inc, US and Spain-based Cunext group. 


The $26.3mn plant will process copper scrap and copper fines into copper anodes. Ames  SMS will supply tilting refining furnace, gas cleaning system, anode casting wheel, automation systems and provide technical assistance for the installation and commencement of production. 


Robust economic recovery in China is fueling a bull run in global copper prices, which hit multi-year highs in December. An uptick in crude oil prices is also supporting high copper prices. On Wednesday, LME three-month copper contract dropped by $64/mt to settle at $7,784.5/mt from $7,848.5/mt on Dec 16. 


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