Guangdong Copper Prices Rise Amid Widened Price Spread

Copper prices continued to rise in Guangdong, China, with the average price of Guangdong #1 copper cathode reaching 108,565 yuan/mt, a 620 yuan/mt increase from the previous trading day. The standard-quality copper was reported at a premium of 10 yuan/mt, up 10 yuan/mt from the previous trading day.

The spot market in Guangdong saw an increase in inventory for the second consecutive day due to increased arrivals of imported copper. However, domestic supply remained relatively tight, and suppliers continued to hold prices firm on their shipments.

Despite this, end-users showed weak restocking enthusiasm due to the significant widening of the price spread between futures contracts and the continued rise in copper prices. As a result, overall thin trading was observed in the spot market.