In the Jan-May period, 44 copper smelting units in China collectively produced 4.31mt mt of copper, an increase of 15pc from the prior-year period. Total 88 electrolytic aluminum producers produced 16.12mn mt of primary aluminum, up by 6pc in the period, according to the data by Shanghai Iron and Steel Federation. Copper and aluminum smelting production capacity in China was at 12.12mn mt and 39.45mn mt, up by 21pc and 9pc, respectively, from the prior-year period.
China Nonferrous Metals Industry Association states the average spot price of copper and aluminum in May was CNY73,924/mt ($11,554.76/mt) and CNY19,208/mt ($3,002.43/mt), up by 8.3pc and 7pc, respectively, from the prior month.
The General Administration of Chinese Customs states, from January to April, China imported 7.883mn mt of copper concentrate, up by 4.4pc from the prior-year period and 1.921 mn mt of unwrought copper and copper materials, 9.9pc more from the Jan-April 2020. China imported 943,000mt of aluminum materials 131pc more from the same period the prior year.
Shanghai Iron and Steel Federation states, at the end of May, the Chinese social inventory of copper and aluminum was 329,000mt and 971,000mt, respectively, up by 55.2pc and 10.2pc from the prior year.
($1= CNY6.39)