Copper Market Sees Tight Supply, Sluggish Trading Amid Delayed Shipments from South America

Publicado: Aug 16, 2024 16:49
According to SMM, due to the delay in shipments of registered copper from South America, there will not be many electrolytic copper arrivals in August, and the main source of supply will be from Japan and South Korea, concentrated at the end of August. Most of the bills of lading that appeared in the market earlier were taken away at high prices to supplement the delayed long-term orders. There were very few offers of bills of lading in the US dollar copper market this week, so traders offered relatively firm prices. After the import price ratio weakened at the end of the week, downstream buyers were unable to accept high-priced supply, but traders still quoted high prices due to the limited supply in the market, resulting in very sluggish trading. The洋山 copper premium also fell from a high level.

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