Monthly Copper Market Report Sep 2019

Copper prices went down below RMB46,000/t (USD6,510/t) in early September when the United States and China slapped new tariffs on each other's products. Supported by news that China and the United States would restart trade negotiation in October and China's State Council released the signal of reserve requirement ratio cut, coupled with the expectation that copper consumption would recover during the September-October period, copper prices rebounded fast and kept rising to nearly as high as RMB48,000/t (USD6,793/t) in mid-September. However, given China's unsatisfying industrial data in August as well as an intensified worry about the trade friction between the world's top two biggest economies, copper prices began to slowly edge down in a reasonable way and closed at around RMB47,000/t (USD6,652/t) at the end of the month.Asian Metal CopyrightCopper prices went down below RMB46,000t USD6,510t in early September when the United States and China slapped new tariffs on each other's products.Asian Metal Copyright In comparison to August, copper consumption slightly increased in September when more transactions were seen in the market.Asian Metal Copyright However, given China's unsatisfying industrial data in August as well as an intensified worry about the trade friction between the world's top two biggest economies, copper prices began to slowly edge down in a reasonable way and closed at around RMB47,000t USD6,652t at the end of the month.Asian Metal Copyright This month saw a continuing decrease in SHFE copper inventory.Asian Metal Copyright Supported by news that China and the United States would restart trade negotiation in October and China's State Council released the signal of reserve requirement ratio cut, coupled with the expectation that copper consumption would recover during the September-October period, copper prices rebounded fast and kept rising to nearly as high as RMB48,000t USD6,793t in mid-September.Asian Metal Copyright LME copper prices rebounded from low levels and remained hovering at relatively high levels in September, rising from USD5,610.5/t early in the month to USD5,728/t at the end of the month, along with an increase in copper inventory.Asian Metal Copyright Supported by news that China and the United States would restart trade negotiation in October and China's State Council released the signal of reserve requirement ratio cut, coupled with the expectation that copper consumption would recover during the September-October period, copper prices rebounded fast and kept rising to nearly as high as RMB48,000t USD6,793t in mid-September.Asian Metal Copyright In addition, US dollar index moved up from 98.Asian Metal Copyright .Asian Metal Copyright7906 to 99.Asian Metal CopyrightCopper prices went down below RMB46,000t USD6,510t in early September when the United States and China slapped new tariffs on each other's products.Asian Metal Copyright3974 in September when the Yuan-to-Dollar exchange rate edged down.

.Asian Metal Copyright In addition, US dollar index moved up from 98Asian Metal Copyright