Monthly Copper Market Report Aug 2019

In early August, copper prices dropped fast and fell below RMB46,000/t (USD6,501/t), down from RMB46,620/t (USD6,589/t) at the beginning of the month as U.Asian Metal Copyright LME copper prices fell fast from USD5,876t in early August to USD5,678t at the end of the month, and then kept hovering at low levels.Asian Metal CopyrightS.Asian Metal Copyright On August 24, Trump announced a new round of tariffs hikes on around USD550 billion worth of Chinese goods.Asian Metal Copyright President Trump announced that he would impose a 10 percent tariff on an additional USD300 billion worth of Chinese goods starting September 1st. Later in the month, copper prices rebounded after hitting the bottom due to the tight supply of copper concentrate, and kept hovering at RMB46,500/t (USD6,572/t) afterwards.Asian Metal Copyright Domestic copper consumption didn't show noticeable improvement in August compared with July, with still scarce transactions seen in the market.Asian Metal Copyright On August 24, Trump announced a new round of tariffs hikes on around USD550 billion worth of Chinese goods. Affected by the announcement, copper prices again fell below RMB46,000/t. However, copper prices picked up after the return of rationality in the market and closed at RMB46,730/t (USD6,605/t) at the end of month, up slightly by RMB110/t (USD15.55/t) from early this month.Asian Metal CopyrightIn early August, copper prices dropped fast and fell below RMB46,000t USD6,501t, down from RMB46,620t USD6,589t at the beginning of the month as U.Asian Metal Copyright Domestic copper consumption didn't show noticeable improvement in August compared with July, with still scarce transactions seen in the market.Asian Metal Copyright5707 to 98.Asian Metal Copyright SHFE copper inventory slightly increased in August when LME copper inventory also increased. LME copper prices fell fast from USD5,876/t in early August to USD5,678/t at the end of the month, and then kept hovering at low levels.Asian Metal Copyright However, copper prices picked up after the return of rationality in the market and closed at RMB46,730t USD6,605t at the end of month, up slightly by RMB110t USD15.Asian Metal Copyright U.Asian Metal Copyright55t from early this month.Asian Metal CopyrightS.Asian Metal CopyrightS.Asian Metal Copyright dollar index went up from 98.Asian Metal CopyrightIn early August, copper prices dropped fast and fell below RMB46,000t USD6,501t, down from RMB46,620t USD6,589t at the beginning of the month as U.Asian Metal Copyright5707 to 98.Asian Metal CopyrightIn early August, copper prices dropped fast and fell below RMB46,000t USD6,501t, down from RMB46,620t USD6,589t at the beginning of the month as U.Asian Metal Copyright7732 in August when the Yuan-to-Dollar exchange rate slightly dropped.
.Asian Metal Copyright Affected by the announcement, copper prices again fell below RMB46,000tAsian Metal Copyright