Copper North Mining Corp – Copper News – December 5, 2016 We are sourcing additional information as to supply and demand that may interest our investors. The information is taken from newsletter and other industry databases. Investors should not rely on the information provided in this Copper News; rather, they should seek advice from investment advisors.
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Copper Recovery: Copper breaks 5 year decline trend, recently breaking US$2.30 and run up to US$2.69 November December 5th.
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LME copper inventories decline from 380,000 tonnes August 2015 peak, to March 2016 low of approximately 145,000 tonnes, a five-year low . Recently, LME inventories ran up to 380,0000t in late Sept and has fallen 142,000 tonnes to 236,000 tonnes.
Copper Inventory Adjustments. ( Note: table does not include private stocks of smelters, governments, etc.)
LME (65%) -2200 tonnes -16,500 -17,150 -34,150 -21,140 -20,375 -2,300 -6,225 -16,885 +15,350 +7,875 -1600 +32,100 +46,925
Shanghai (23%)
Comex (11.5%)
-42,491 tonnes +9,527 +21,985 +14,712 -4,709 -15,086 -3,805 +14,381 0 -23,722 -5,549 -7,389 -8,688 -13.339
+8,104 tonnes +1,192 +2,281 +520 - 216 -372 +1,805 -430 +40 +150 +113 +1,493 +1,223 +26
Production cut-backs, decline of mine head grades, reduced treatment and refining charges, and falling inventories, all suggest copper supply shortfalls in the making? The recent rapid Q1 increase in Shanghai warehouse and China bonded stocks indicate Chinese anticipation of tighter copper markets. Now Shanghai inventories are falling and imports increasing.
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Week Of Nov 28, 2016 Nov 21, 2016 Nov 14, 2016 Nov 7, 2016 Nov 1,2016 Oct 24, 2016 Oct 17, 2016 Oct 10, 2016 Oct 3, 2016 Sept 26, 2016 Sept 19, 2016 Sept 12, 2016 Sept 5, 2016 Aug 29, 2016
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LME runup (150,000 t) to 380,000 tonnes in late August, inventories now 236,000 t (142,000 t decline); major decline in Shanghai wharehouse and large Comex inventory build up.
HM Visagie Daily Notes Dec 2, 2016
Dec 1, 2016
Nov 30, 2016
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Nov 28, 2016 China Infrastructure Continues to Blossom
Nov 25, 2016
Nov 24, 2016
Increasing Warehouse Premiums‌.is copper next?
Nov 21, 2016
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• Aurubis, Europe's biggest Cu smelter, said on Thursday the reported agreement between Jiangxi Cu and Freeport McMoRan (FCX.T) for annual Cu ore TCRC for 2017 is "too low". Diversified miner FCX has agreed a 5 % reduction in charges it will pay China's biggest Cu smelter Jiangxi Cu to process its concentrate for 2017, people familiar with the matter said on Thursday, in a deal that will set a benchmark for the Cu industry. Comment: It is possible that Aurubis is overly optimistic on Cu concentrate supply. The fact that the parties agreed on lower TC/RC indicates that copper concentrates supply is tightening.
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Nov 18, 2016
Nov 17, 2016 Chinese View on Copper
Nov 16, 2016 Note Japanese Supply Concerns Vs Jiangxi Copper Lots of Supply And Low Prices
Nov 8, 2016
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Nov 10, 2016
Nov 4, 2016
Nov 3, 2016 Arsenic Problem
Nov 1, 2016
Oct 31, 2016
Oct 27, 2016 – Smelters Facing Decreasing Concentrate Availability
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Oct 26, 2016
Oct 24, 2016
Oct 21, 2016 – Forecast of Higher Copper Prices
Oct 18, 2016 Chinese Demand For Power Remains Strong
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Oct 17, 2016
Oct 14, 2016
Oct 6, 2016
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Sept 8, 2016- Chinese Demand For Copper Remains Strong.
Thomson Reuters Production of top 10 countries and producers (4 companies gained and 6 lost)!
The following table illustrates development projects. The capex estimates and timelines are an indicator of future mine development necessary to meet future global mine supply. Most of the projects are large capex and long timelines for production.
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Thompson Reuters notes that the 2015 copper incentive price required to meet new mine supply demand is US$3.14 per pound of copper. The new PEA for Carmacks Project will soon provide new information on C1 cash and Total costs of producing copper.
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Note Carmacks capex to be revised downwards