- Write by:
-
Thursday, January 21, 2021 - 10:26:55 PM
-
553 Visit
-
Print
Mining News Pro - Global copper smelting activity climbed in December, led by top producer China, while North America extended its decline as coronavirus cases surged, data from satellite surveillance of copper plants showed.
Europe dipped slightly, but its smelting activity remained strong, satellite service SAVANT and broker Marex Spectron said in a joint statement on Thursday.
"China and the rest of Asia continued the rapid expansion that was seen in November, although as we head towards Chinese New Year, we would expect to see some softening of activity levels," said Guy Wolf, global head of analytics at Marex, which helped develop SAVANT.
"The stand-out reading in December continues to be North America, where the pandemic has depressed activity levels to near the lows of the year."
Earth-i, which specialises in geospatial data, launched its SAVANT service late last year, tracking more than 100 smelters representing 80% to 90% of global production.
It sells data to fund managers, traders and miners and publishes a free monthly index of global copper smelter activity.
Its global dispersion index rose to an average of 55.2 in December from 53.0 a month earlier.
Under SAVANT`s dispersion index, 50 points indicate smelters are operating at the average level of the last 12 months. It also has a second index showing the percentage of active smelters.
China, the world`s top refined copper producer, gained to 55.5 in December from 48.6 a month before, while North America dropped to 33.6 from 36.6 in November and 45.4 in October.
Short Link:
https://www.miningnews.ir/En/News/610160
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric ...
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains ...
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports ...
Copper output in Chile, the world’s largest producer of the metal, edged down in March, data from copper commission ...
Panama’s president-elect has ruled out talks with Canadian miner First Quantum Minerals until it drops multiple ...
Botswana President Mokgweetsi Masisi vowed to protect the country’s interests, including its 15% stake in diamond giant ...
Europe’s largest copper producer Aurubis AG reported first-half core profit above expectations on Wednesday, helped by ...
China issued draft rules on Wednesday to regulate its lithium battery market, after rapid expansion in the sector hit ...
No comments have been posted yet ...