increase in trading session

Copper traded up in trading on the London Metal Exchange.

Copper futures rose above $4.57 a pound, snapping a three-day losing streak, as US President Donald Trump suggested a new trade deal with China, the world's top copper consumer, could be possible.

Geopolitical concerns also supported metal prices, with European Union officials agreeing to ban imports of Russian primary aluminium as part of a wider sanctions package.

Meanwhile, in China, authorities have imposed restrictions on copper smelting due to excess industrial capacity.

This overproduction has led to higher copper imports and falling inventories, although smelters are facing challenges in maintaining profitability.

In the US, Federal Reserve officials noted in January that they wanted to see more progress on inflation before cutting interest rates further, expressing concerns about the potential impact of Trump's tariffs.

This week, the spot copper market premium/discount in Shandong remained low. As of Thursday, the average spot discount in Shandong was reported at 325 yuan/ton. Specifically, the recovery of end-use demand is relatively slow.

After the central copper price turned down on Tuesday, the purchasing enthusiasm of downstream processing enterprises improved slightly, but overall, purchasing demand remained low.

Trading in the spot market improved only slightly this week, and overall activity still needs to be strengthened. 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