Copper Prices Rise Above 107,000 Yuan/mt Despite Slowing Demand

Copper prices rose above 107,000 yuan/mt during trading hours, causing downstream purchasing to slow significantly. However, suppliers' willingness to sell strengthened, and they continuously lowered their offer prices throughout the day to facilitate deals.

As standard-quality copper prices pulled back, downstream purchase willingness improved somewhat, and some low-priced cargoes were gradually transacted. Meanwhile, available supply of high-quality copper and registered SX-EW copper remained scarce, with relatively firm offers providing some support to spot premiums.

Today's sales sentiment for copper cathode in Shanghai was 3.1, up 0.1 from the previous day, while purchase sentiment was 2.88, edging down 0.03 from the previous day.