Copper futures rose above $4.57 a pound, ending a three-day losing streak, as U.S. President Donald Trump suggested that a new trade deal with China, the world's top copper consumer, might be possible.
Geopolitical concerns also supported metal prices, with European Union officials agreeing to ban imports of pure Russian aluminum as part of a broader sanctions package.
Meanwhile, in China, authorities have imposed restrictions on copper smelting due to excess industrial capacity.
This overproduction has led to increased copper imports and reduced inventories, although smelters are facing challenges in maintaining profitability.
In the U.S., Federal Reserve officials noted in January that they wanted to see more progress on inflation before further interest rate cuts, expressing concerns about the potential impact of Trump's tariffs.
This week, spot premiums/discounts in the Shandong spot copper market remained low. As of Thursday, the average spot discount in Shandong was reported at 325 yuan/tonne. Specifically, end-user demand recovered relatively slowly.
Following the shift of central copper prices downward on Tuesday, buying enthusiasm from downstream processing businesses improved slightly, but overall, demand remained low.
Spot market activity this week has only improved slightly, and overall activity still needs further strengthening. Looking ahead to next week, the spot spread/discount in Shandong has nearly bottomed out, and the spread/discount is expected to be limited next week.
Source: https://kinhtedothi.vn/gia-kim-loai-dong-ngay-21-2-tang-trong-phien-giao-dich.html
Comment (0)