In the upcoming year of 2025, the global economy is expected to face a series of complex and volatile challenges. The US Federal Reserve is anticipated to enter a cycle of interest rate cuts, a policy shift that will have profound impacts on global financial markets. Simultaneously, with the conclusion of the US elections, uncertainties in global trade policies are expected to further increase, presenting new challenges for international trade cooperation. In the realm of geopolitics, ongoing conflicts and tensions show no significant signs of easing, posing threats not only to global security but also significantly affecting resource allocation and industrial layouts. Against this macro backdrop, industrial relocation and supply chain restructuring have become critical topics that we must closely monitor. At the industrial level, we observe a rising trend of protectionism in mineral resources, which directly affects the stability of global copper concentrate TCs. With the rapid expansion of global smelting capacity, the profit margins of copper smelters are further compressed, and the challenges faced by the industry are becoming increasingly severe. In the field of secondary copper raw materials, the advancement of Environmental, Social, and Governance (ESG) standards and the "dual carbon" goals have significantly increased market attention on secondary copper. However, the "reverse invoicing" policy implemented in 2024 and the Fair Competition Regulations have had profound impacts on the secondary copper industry. Looking ahead to 2025, changes in the landscape of the secondary copper industry will have critical impacts on the entire copper industry chain. Additionally, policy changes will also significantly affect the trade market structure of copper cathodes. With the cancellation of incentives such as tax subsidies, the space for copper cathode trade is expected to further narrow. We anticipate a more pronounced differentiation in the procurement ratios of copper processing materials between traders and smelters.
Venue:Nanchang, Jiangxi, China
CCIE 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo Conference Website:◉ Click to Enter
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Contact for Registration:
● Yao Ma183-2139-5342
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