Shanghai Metal Corporation

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     Copper supply problem had back up to the second line, before macro aspect is improved, copper price is still under pressure, at the end of this year, copper price is still vibrated, LME copper prices is around 8000 USD, shanghai copper prices is around 60000 RMB.
    The second of this year, copper supply shortage began to appear, first is Chile's bad stormy and rainy weather, which gave rise to copper ore decrease or stop producing, then workers went on strike. Recently, Chile mining industry organization and international copper research group claimed that copper volume will decrease from 570 tons to 540 tons. As now international market is focus on America Freeport branch Indonesia Grasberg copper mine and Peru Gerro Verde, this two copper mine company's production volume was 122.000 tons and 0.31 million tons. Since September, these two mining company were going on strike.　　
     Not only refined copper is shortage, scrap copper supply is also in tension especially after September. European scrap copper also decrease the price, at the end of October, America 2# scrap copper has decreased to 836-880 USD.

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