China Refined Copper Prices Rise on Strong Fundamentals

China's refined copper market experienced a price increase during the September 21-24 period, driven by strong fundamental support. As the Mid-Autumn Festival and China's National Day holidays approached, downstream feedstock restocking demand rose.

Domestic smelters had low finished-product inventories and prioritized long-term contract shipments before the holiday, keeping spot shipments relatively low.

Although imported copper arrivals increased in some markets, the increment was limited. This tight supply and improving demand led to a further decline in China's refined copper retail inventory, supporting copper prices and spot premiums.