October 11 Shanghai copper spot market KuaiBao: copper prices rebounded risk aversion strong, spot rising water overreported low go

Published: Oct 11, 2019 12:11

Save

SMM, Oct. 11: Shanghai electrolytic copper spot contract today rose 120 ~ 170 yuan / ton, Pingshui copper transaction price 47020 yuan / ton ~ 47080 yuan / ton, Shengshui copper transaction price 47040 yuan / ton ~ 47100 yuan / ton. Trade sentiment between China and the United States has temporarily shown signs of easing, overnight Shanghai copper performance rebounded, copper prices rose to 46900 yuan / ton line today. The return of copper futures suppressed yesterday's positive buying mood. Morning market holders still want to continue yesterday's quotation of 150 yuan / ton to 180 yuan / ton. However, there is little initiative in the market today. Fearing heights gradually rises, the holder has no choice but to open the downward model. Good copper quotation rises 150-160 yuan / ton, Pingshui copper down to 130-140 yuan / ton, although there are some transactions, but the overall market atmosphere is not as good as yesterday. The holder continued to take the initiative to reduce the price to close the deal. The second section of the trading stage, in the shipping difficult to cash pressure environment, the holder's willingness to cash further strengthened, rising water quotation more than, flat copper quotation as low as 120 yuan / ton, part of the good copper as low as 140 yuan / ton, wet copper down faster, the quotation from the early market around 100 yuan / ton down to 70 ~ 80 yuan / ton. Today's market is stacked with empty news, reversing yesterday's high buying mood. The import copper window has been open for two days since the opening of the post-festival market. It is expected that a large number of imported copper goods will be put into storage over the weekend. At the same time, the "Wuxi viaduct collapse" incident that occurred last night, on the one hand, affected traffic, on the one hand, escalated the severity of logistics overload, and to a certain extent limited the willingness to buy goods downstream. And two days before the copper price low when the downstream has been continuous replenishment, short-term downstream performance will be cautious wait and see, the holder risk aversion is strong, the initiative to turn to the buyer, resulting in today's market upside down, can completely press the price of transactions, traders receive goods intended to lower the water level, strong and weak characteristics are obvious.

Copper copper price spot current copper afternoon news

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

6 hours ago

Copper Prices Reach Two-Month High as U.S. Inflows Surge Ahead of Tariff Decision

Copper prices climbed to around US$14,000 per tonne on the London Metal Exchange (LME), reaching their highest level in two months as traders continued to monitor record inflows of copper into the United States ahead of an anticipated decision on refined copper import tariffs. According to foreign media reports, more than 200,000 tonnes of copper arrived at U.S. ports during July, representing the largest monthly inflow recorded by IHS Markit since it began tracking the data in 2014. The surge has significantly increased inventories at U.S. warehouses and ports while reducing the volume of metal available to consumers in other regions. The inflows have continued despite uncertainty over potential U.S. tariffs on refined copper imports. Although the U.S. Commerce Department was expected to submit its recommendations by the end of June, no formal decision has yet been announced. The sustained premium of U.S. copper prices over LME prices has continued to support profitable arbitrage opportunities, encouraging traders to redirect material into the U.S. market. Market Impact: The concentration of copper inventories in the United States is tightening physical availability elsewhere, reinforcing an already constrained global market. With copper prices remaining near historic highs and demand supported by electrification, power infrastructure and advanced manufacturing, any tariff decision that further alters global trade flows could intensify regional supply imbalances and provide additional upside for international copper prices.

6 hours ago

13 hours ago

【SMM Flash】Middle East August Sulfur Contract Prices Released

KPC has set the August Kuwait Sulphur Price (KSP) at $865/mt FOB, down by $85/mt from the July KSP of $950/mt; QatarEnergy has kept its August Qatar Sulphur Price (QSP) unchanged at $890/mt FOB from July; ADNOC has kept its August official selling price (OSP) for the Indian subcontinent unchanged at $1,000/mt FOB Ruwais from July.

13 hours ago

14 hours ago

Khoemacau Copper Mine Boosts Q2 2026 Output, Expansion On Track

Botswana's Khoemacau copper mine increased copper production in the second quarter of 2026 as improved ore grades offset lower mining volumes, while construction of its major expansion project continued to advance. According to MMG Limited's second-quarter production report, Khoemacau produced 11,423 tonnes of copper in concentrate during the three months ended 30 June, representing a 7% increase from the previous quarter and remaining broadly in line with production achieved in the corresponding period of 2025. Although ore milled declined year-on-year, the operation benefited from improved copper grades of 1.62%, up from 1.59% a year earlier, as mining progressed into higher-grade sections of the Zone 5 orebody. Metallurgical recovery remained stable at 88.2%. MMG said lower ore mined volumes reflected earlier development delays and reduced equipment availability. However, the company expects operational performance to strengthen during the second half of 2026 as new mining equipment is deployed, refurbished fleet units are commissioned, and access to higher-grade mining areas continues. The company maintained its 2026 copper production guidance of 48,000-53,000 tonnes while lowering C1 cash cost guidance to US$1.70-US$2.00/lb, supported by stronger silver prices. Construction of Khoemacau's expansion project also progressed during the quarter. The project is designed to increase annual copper production to 130,000 tonnes of copper in concentrate and more than 4 million ounces of silver, with first concentrate expected in the first half of 2028. Continued progress at Khoemacau reinforces Botswana's position as an emerging copper producer at a time of tightening global supply. The expansion is expected to add meaningful new copper capacity over the medium term, supporting long-term supply growth as demand from electrification, renewable energy and electric vehicle manufacturing continues to accelerate.

14 hours ago