Monthly Copper Market Report Nov 2018

In November, Chinese copper prices kept fluctuating within the fixed range. Despite dropping below RMB49,000/t (USD7,117/t) for three times with in the month, copper price eventually rebounded to the level of RMB50,000/t (USD7,263/t) supported by favourable news about the trade issues between China and the United States.Asian Metal Copyright Supported by increasing demand for high-grade copper cathode, premiums for the material kept going up and the market saw stronger wait-and-see attitude toward transactions.Asian Metal Copyright In addition, international copper prices fluctuated up with LME copper inventory declining.Asian Metal Copyright As it was more profitable to do export business based on the ratio between Chinese copper price and international copper price, most domestic enterprises reduced imports and began to do export business.Asian Metal Copyright During the same month, the US dollar index rose slightly and the Yuan-to-Dollar exchange rate kept stable.Asian Metal Copyright In addition, international copper prices fluctuated up with LME copper inventory declining.Asian Metal Copyright As it was more profitable to do export business based on the ratio between Chinese copper price and international copper price, most domestic enterprises reduced imports and began to do export business.Asian Metal Copyright Despite dropping below RMB49,000t USD7,117t for three times with in the month, copper price eventually rebounded to the level of RMB50,000t USD7,263t supported by favourable news about the trade issues between China and the United States.Asian Metal Copyright China's copper inventory declined while the inventory in free trade zone increased.Asian Metal Copyright Supported by increasing demand for high-grade copper cathode, premiums for the material kept going up and the market saw stronger wait-and-see attitude toward transactions.Asian Metal Copyright Supported by increasing demand for high-grade copper cathode, premiums for the material kept going up and the market saw stronger wait-and-see attitude toward transactions.
.Asian Metal Copyright Supported by increasing demand for high-grade copper cathode, premiums for the material kept going up and the market saw stronger wait-and-see attitude toward transactionsAsian Metal Copyright