Guangdong Copper Prices Remain Firm as Suppliers Hold Onto Stocks

Copper prices in Guangdong province remain firm as suppliers continue to hold onto their stocks and sell, despite declining inventory levels.

The average price of #1 copper cathode in Guangdong reached 109,205 yuan/mt on August 26, a rise of 700 yuan/mt from the previous trading day.

Standard-quality copper was quoted at a premium of 160 yuan/mt, up 10 yuan/mt from the previous day, while SX-EW copper was quoted at a premium of 100 yuan/mt, also up 10 yuan/mt.

The spot market in Guangdong saw inventory levels decline for seven consecutive days due to reduced arrivals and a lack of available cargo.