Metal Minings News

Copper concentrate supply has improved considerably due to better mining output, informed Norddeutsche Affinerie (NA). Concentrate output in Chile, for example, rose 1.8 % to 2.81 million tonnes last year.

Demand, meanwhile, has dropped to lower-than-expected levels mostly owing to maintenance shutdowns at Chinese smelters and extreme weather conditions, which will have an impact on China’s concentrate demand in the short term.

The copper scrap market in 2008 has not yet recovered to the level of the second half of 2007. While the trade showed a lack of willingness to deliver, supply remained limited despite high copper prices, NA said. The European market for copper wire rod benefited from the high demand for cable and wires that was supported by increased investment in the energy sector. European semis fabricators, however, faced lower-than-expected demand from customers, despite some signs of stabilisation.

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