Copper prices in China decreasing
2014-07-08 10:17:41 [Print]
BEIJING (Asian Metal) 8 Jul 14 - Copper prices in China went down on Monday and traders offered a lower price than the previous day. Participants hold the view that copper prices would continue to decrease slightly.
A trader in Shanghai with a sales volume of about 6,000tpm sold 300t of copper on Monday at about RMB51,600/t (USD8,390/t), down by RMB500/t (USD81/t)compared with last Friday.
“The price is relatively high although copper prices go down. Our downstream consumers are reluctant to buy and the demand from consumers is not so good,” said the source, adding that they have no stock at hand.
A producer in Jiangxi with an output of over 80,000tpm sold 175t of copper at RMB51,700/t (USD8,407/t) ex works this Monday, down by about RMB500/t (USD81/t) compared with last Friday. He said that consumers are on the fence due to relatively high copper prices.
“The US dollar is stronger than that in the previous days, which contributes to the decreasing price of copper,” noted the source, adding that they have about 3,000t of copper at hand. He believes copper prices may continue to edge down.
A trader in Shanghai with a sales volume of about 6,000tpm sold 300t of copper on Monday at about RMB51,600/t (USD8,390/t), down by RMB500/t (USD81/t)compared with last Friday.
“The price is relatively high although copper prices go down. Our downstream consumers are reluctant to buy and the demand from consumers is not so good,” said the source, adding that they have no stock at hand.
A producer in Jiangxi with an output of over 80,000tpm sold 175t of copper at RMB51,700/t (USD8,407/t) ex works this Monday, down by about RMB500/t (USD81/t) compared with last Friday. He said that consumers are on the fence due to relatively high copper prices.
“The US dollar is stronger than that in the previous days, which contributes to the decreasing price of copper,” noted the source, adding that they have about 3,000t of copper at hand. He believes copper prices may continue to edge down.
Copper Cathode 99.99%min Delivered China
Unit:RMB/mt
China refined copper producers' operating rate statistics by province by month
Unit: %
