Copper Prices Rise on July US CPI Cooling, Signaling Sept Rate Cut Hopes; SHFE-BC Spread Widens

Published: Aug 15, 2024 15:43

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【SMM Flash News】The cooling Consumer Price Index (CPI) in the United States in July provided support for interest rate cuts to begin in September, leading to a rise in copper prices during the day. The SHFE copper 2409 contract closed at 72,830 yuan/ton. If calculated based on the BC copper 2409 contract price of 64,640 yuan/ton, its after-tax price would be approximately 73,043 yuan/ton. The price difference between the SHFE copper 2409 contract and the BC copper 2409 contract is -213 yuan/ton, maintaining an inverted state and widening from the previous trading day.

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