A typhoon-driven stockpiling spree swept in, low-priced standard-quality copper supply was snapped up in seconds, and the center of spot premiums quickly broke above 100 yuan.

According to the latest report from the Central Meteorological Observatory today, the center of this year’s 9th typhoon “Bavi” (super typhoon level) was located on the sea surface about 1,650 kilometers east-southeast of Keelung City, Taiwan at 5 a.m. today (8th), with maximum wind force near the center reaching level 17 (60 m/s). Zhejiang meteorological authorities assessed that “Bavi” was highly likely to brush past or make landfall along the northern coast of Taiwan Island from the post-midnight hours of the 10th to the daytime of the 11th, and to land along the Zhejiang-Fujian coast from the night of the 11th to the morning of the 12th.

Affected by this, downstream copper semis processors in Jiangsu and Zhejiang regions worried that logistics and transportation would be hindered after the typhoon’s landfall this weekend and that weekend cargo pick-up would be impossible, which significantly heated up market sentiment. In early trading, domestic standard-quality copper quoted at a premium of 70 yuan/mt saw deals completed within seconds, and then low-priced supply became difficult to find. Suppliers held prices firm with strong determination, and the actual transaction center moved up to a premium of 100 yuan/mt and above.