Copper Industry Operation in The First Half Of 2022

First, the production remains stable. According to the National Bureau of Statistics, in the first half of this year, refined copper output was 5.333m tons, up 2.5% year on year; Copper output was 10.231m tons, up 2.4% year on year.

Second, the year-on-year decline in inventories. Copper stocks were 114,000 tonnes at the end of June, down 49.1 per cent from a year earlier and at their lowest level in recent years, according to Shanghai Steel Association.

Third, prices rose year-on-year. In the first half of the year, the average spot price of copper was 71,750 yuan per ton, up 7.7% year on year, according to the China Non-Ferrous Metal Industry Association.

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4. Year-on-year growth in imports. According to the data of the General Administration of Customs, in the first half of this year, the import of copper concentrate was 12.481 million tons, up 8.6% year on year, and the import amount was 31.35 billion US dollars, up 13.6% year on year; The import of unwrought copper and copper materials was 2.942 million tons, up 5.3% year on year, and the import amount was 29.8 billion US dollars, up 17.1% year on year.

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