Guangdong Copper Market Sees Premiums Rise Amid Inventory Decline

The copper market in Guangdong saw an increase in spot prices on August 25. The premium for high-quality copper cathode rose by 100 yuan/mt to 250 yuan/mt, while standard-quality copper's premium increased by 70 yuan/mt to 150 yuan/mt. SX-EW copper also saw a rise of 80 yuan/mt in its premium to 90 yuan/mt.

The average price of #1 copper cathode in Guangdong was 108,505 yuan/mt, up 665 yuan/mt from the previous trading day. The average price of SX-EW copper was 108,395 yuan/mt, an increase of 660 yuan/mt from the previous day.

The spot market saw a decrease in inventory for six consecutive days due to reduced arrivals. This led to a reduction in available cargo in the market. Suppliers actively held prices firm, resulting in higher premiums and improved overall trading.