The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Apr 30, 2024

Overnight, LME copper opened at $10,029.5/mt, with its low and high at $10,020/mt and $10,185/mt before closing at $10,162/mt, up 2.03%.

Overnight, LME copper opened at $10,029.5/mt, with its low and high at $10,020/mt and $10,185/mt before closing at $10,162/mt, up 2.03%.

As of Monday, April 29, copper inventories in mainstream markets across China fell by 16,800 tons from last Thursday to 387,900 tons, a rare sharp decline. The inventories decreased across most regions and only inventories in Chongqing increased.

At the 2024 (19th) SMM Copper Industry Conference and Copper Industry Expo - 2024 SMM Strategic Consulting Summit Forum-Discovering Overseas Investment Opportunities in the Copper Industry Chain, jointly organized by SMM and Shandong Humon Smelting Co., Ltd., SMM Consulting Manager Wang Hemeng and SMM Senior Consulting Manager Fei Changyun shared the discovery of investment opportunities in the overseas markets.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Apr 29, 2024

LME copper prices opened at $9990.5/mt and closed at $9960/mt in last Friday evening trading, a gain of 0.61%, with the low-end of $9896.5/mt and the high-end of $10012/mt.

LME copper prices opened at $9990.5/mt and closed at $9960/mt in last Friday evening trading, a gain of 0.61%, with the low-end of $9896.5/mt and the high-end of $10012/mt. Trading volume was 27,000 lots, and open interest stood at 337,000 lots.

In March 2024, China imported 2.330 million tons of copper concentrate and ore, a month-on-month increase of 5.9% and a year-on-year increase of 15.3%; from January to March, China imported a total of 6.988 million tons of copper ore and concentrate, an increase of 5.1% over the same period last year.

We would like to inform you that due to the upcoming Labour Day holiday,  all of our news updates will be temporarily suspended during May 1-5 and all of our weekly reports for the Labour Day holiday week will also be temporarily cancelled.