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29 April | Other

Buyers’ activity on copper market in China reached its 16-mouth high

Copper
Buyers’ activity on copper market in China reached its 16-mouth high

The gauge of activity of Chinese copper market reached its maximum since the end of 2023. It happened due to the increasing willingness of buyers to secure future supply.

According to Shanghai Metals Market data, the key red metal supply premium in the region showed an increase from $35 per ton at the end of February to $95 on Monday. This sharp rise shows the current tension in the global copper market.

The threat to impose tariffs on this metal by the United States President Donald Trump stimulated an active flow of copper supplies across the ocean. At the London Metal Exchange (LME), in turn, the cost of the red metal returned to usual levels after the recent collapse caused by similar tariffs, imposed by the US side.

Meanwhile, the cost of the metal continues to rise today.

Anton Volkov MarketCheese

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