Close this search box.


China stainless steel factory

The early price decline provides an opportunity for copper prices to rebound. On the 18th, copper may rise.

Rising U.S. bond yields and hawkish bets exerted pressure on base metals. Additionally, robust economic reports further strengthened the Federal Reserve’s determination to maintain high interest rates, causing a cautious sentiment in the market. Overnight, London copper fluctuated and closed with a decline of 0.29%, with the latest closing price at $7,961 per ton, down $24, with a trading volume of 21,033 lots, an increase of 5,400 lots, and open interest of 270,675 lots, a decrease of 4,607 lots. In the evening, Shanghai copper opened lower but trended higher, with the latest closing price for the main 2311 contract at 66,410 yuan per ton, up 240 yuan, an increase of 0.36%.

On October 17th, the latest LME copper inventory was reported at 180,675 metric tons, a decrease of 325 metric tons from the previous trading day, down 0.18%.

Copper opened higher in early trading today, with the main 2311 contract opening at 66,460 yuan per ton, up 290 yuan. The domestic central bank’s excess MLF operations have boosted market confidence, and there is still hope for an LPR cut in the future. On the supply and demand side, supply remains relatively strong, but downstream restocking stimulated by the earlier price decline is ongoing. Shanghai copper’s social inventory continues to operate near its lows, which has to some extent limited the downward pressure on copper prices. Furthermore, China’s impressive development in lightweight electric vehicles and rising purchasing power in the end consumer sector are driving demand for copper. Therefore, in the short term, there are still positive factors supporting copper prices, and it is expected that copper will rise today.

New Center

More Posts

Shanghai Aluminum’s supply and demand fundamentals are weakening, with aluminum prices expected to fall on July 5th.

Amid the tug-of-war between the US rate cut expectations and demand concerns, LME aluminum dropped 0.88% overnight; Shanghai aluminum’s supply and demand fundamentals are weakening, with spot consumption cautious and lacking in orders. Aluminum ingot social inventories continue to accumulate, suggesting a potential drop in aluminum prices today. The tug-of-war between US rate cut expectations

Italian flat steel prices rise on supply shortage

According to Kailan International Steel Information on June 18, due to the strikes in some steel mills in recent weeks, European steel manufacturers have accumulated a large number of unplaced orders. On the basis of weak downstream demand, supply has become even weaker, leading to an increase in the transaction price of Italian plates. The

Sustained Rebound, Consolidation

Viewpoint: The macroeconomic guidance is neutral. The sentiment in the non-ferrous metals sector has significantly eased, showing a weak rebound. On the supply side, TC (Treatment Charges) remains sluggish, and the strong reality of tight marginal supply of copper concentrates continues. The previous high copper prices attracted extensive illegal mining in Peru, and whether production

Send Us A Message


Let's have a chat