Copper Casting Activity Rebounded in November

Forex - The global copper smelting operations increased in November compared to October due to the rise in activities at integrated facilities outside of China. Earth-i, a company specializing in observational data, stated that on average, 13.4% of the global copper refining capacity remained inactive in November, down from 16.1% in October. Earth-i mentioned, "Unusually, this movement was not driven by activities in China." The activity at smelting facilities in China, which host more than 40% of the capacity in the services sector, decreased by 0.2 percentage points to 15.3% in November compared to the previous month. On a global level, the inactivity among smelting facilities purchasing concentrates from third parties decreased by 0.7 points to 15.5%, while the inactivity of facilities integrated with a major nearby mining complex dropped by 5.3 points to 10.7%.