Original title: Global copper smelting activity continued to recover in May
Foreign media news on June 5: Satellite monitoring data show that in May the smelting activities of global copper smelters hit a new high for the year, continuing the recent growth momentum.
In May, the global dispersion index reflecting global smelter activities rose to 49.4 points, an increase of 13.3% from April. When the index reaches 50, it means that smelting activity is at the average level of the past 12 months.
The increase in smelting activities coincided with a record high in copper prices. The benchmark London copper futures price has risen by 27% so far this year and hit a record high of US$1,0747.5 on May 10.
China’s dispersion index in May was 48.9 points, higher than April’s 44.3 points; China’s copper smelting activity was strong in early May, but as the Chinese smelters entered seasonal maintenance, smelting activities declined.
The European index increased from 37.7 in April to 45.7%, and the North American index increased from 33.1 to 38.9 points.
(Article source: Yangtze RiverNon-ferrous metalsnetwork)
(Editor in charge: DF506)
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