At the 2024 (19th) SMM Copper Industry Conference and Copper Industry Expo jointly organized by SMM and Shandong Humon Smelting Co., Ltd., SMM Big Data Director Ye Jianhua gave an outlook and forecast on the copper market price in 2024.

Copper, as one of the bulk strategic materials, is an irreplaceable and important raw material in the national economy, having both commodity and financial attributes. China is the world's largest producer and consumer of copper semis. The application fields of copper semis continue to expand and the level of localisation continues to improve. The national 14th Five-Year Plan and high-quality development have put forward clear development directions and goals for copper-related industries. SMM analyses the future trend and main application fields of copper in China based on the current market supply and demand of copper in China and current policies.

The imports of copper scrap in March was 177,600 mt, an increase of 2.2% month-on-month and 18.43% year-on-year.

SMM expects that the spot TCs of copper concentrate will continue to rise from the second quarter until the third quarter, citing the changes in the supply and demand of copper mines and smelters.

Approaching the Two Sessions in March, more policies supporting infrastructure and real estate sectors will be

Approaching the Two Sessions in March, more policies supporting infrastructure and real estate will be implemented, which will boost the recovery of terminal consumption.