Copper metal price on December 9: slight increase

Three-month copper on the London Metal Exchange (LME) rose 0.5% to $9,122 a tonne, having touched $9,178.50, its highest since Nov. 15.

Chilean miners Antofagasta and Jiangxi Copper have agreed to significantly reduce copper concentrate processing fees for 2025, highlighting concerns about a shortage of copper concentrate in the spot market.

“In 2025, we will likely see smelters struggling to make a profit at the new TC/RC (processing and refining fee) levels. Supply issues will start to flare up in the second half of 2025,” said Daria Efanova, research director at brokerage Sucden Financial.

Some investors closed positions before the end of the year and the rise in copper prices caused some short selling by speculators, Efanova added.

Although copper has fallen 10% since hitting a four-month high of $10,158 on Sept. 30, it has since recovered from a drop to $8,904. The market has also been supported by a steady decline in inventories on the Shanghai Futures Exchange (SHFE), which recorded another 10% drop in weekly data on Friday, bringing the total decline since early June to 71%.

Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-9-12-tang-nhe.html