Copper Prices Firm Amid Supply Concerns and Strong Demand

Copper prices held onto gains on Monday as market participants weighed signs of potential supply tightness and robust demand in China.

According to Shanghai Metals Markets, multiple copper refineries in China will undergo planned maintenance between October and November, limiting a significant increase in metal availability.

This development comes amidst ongoing uncertainty over imported supplies in China due to port congestion in Shanghai, which is expected to continue for some time.

The Yangshan premium, a gauge of domestic demand, has eased from its highest level since November 2022 but remains elevated, indicating sustained buying interest in the market.