Copper Prices Fall Amid Weak Demand and Limited Supply

The copper market saw a mixed performance on Friday, September 11, with LME copper opening at $14,499/mt and hitting a high of $14,505/mt before trending lower throughout the session. The price eventually settled at $14,182.5/mt, down 4.25% from the previous day's close.

The SHFE copper 2610 contract also saw a decline, opening at 108,500 yuan/mt and hitting a high of 109,090 yuan/mt before trending lower to a low of 108,350 yuan/mt. The contract eventually settled at 108,360 yuan/mt, down 3.02% from the previous day's close.

On the supply side, arrivals of both imported cargoes and smelter shipments were limited, while demand was weak due to high copper prices. As a result, premiums are expected to continue edging down.