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Commodities

Copper Prices Pull Back in Guangdong Amid Rising Inventory

Guavy AI Editorial Team
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Copper
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Copper prices pulled back in Guangdong province due to increased inventory levels. The rise in inventory was attributed to higher arrivals and weaker consumption. Despite this, suppliers held firm on their selling prices, which helped stimulate higher premiums.

The average premium for #1 copper cathode in Guangdong against the front-month contract rose by 25 yuan/mt to 105 yuan/mt. SX-EW copper premiums also increased by 20 yuan/mt to an average of 10 yuan/mt.

The average price of #1 copper cathode in Guangdong fell by 260 yuan/mt to 105,100 yuan/mt, while the average price of SX-EW copper decreased by 265 yuan/mt to 105,005 yuan/mt.

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