China copper market gauge hits 16-month high on demand flurry
me-metals: A gauge of strength in China’s copper market has jumped to the highest since late 2023 as buyers scramble to secure supplies.
According to me-metals cited from mining.com, The Yangshan premium — named after a key Shanghai trade terminal — jumped from a low of $35 a ton in late February to $94 on Tuesday, according to data from researcher Shanghai Metals Market.
The premium is paid by buyers on top of exchange prices for imported copper, and the sharp rebound reflects tightness in the market as trade tensions persist. Traders in China have reported a burst of strong domestic demand, and stockpiles in Chinese warehouses have plunged in recent weeks.
“The continuous destocking in the Shanghai region has kept Shanghai spot copper premiums firm,” ANZ Group Holdings Ltd. wrote in a note.
The threat of copper-specific tariffs has encouraged a large flow of metal to the US ahead of any duties, tightening markets elsewhere and spurring more competition for the industrial metal.
On the London Metal Exchange, copper has rebounded since its collapse during the wider market turmoil that followed US President Donald Trump’s unveiling of sweeping tariffs at the start of the month. The metal sank to its lowest in a year, triggering a wave of buying from China that helped lift prices.
LME copper rose 0.7% to settle at $9,440 a ton at 5:50 p.m. in London. Other LME metals were mixed, with aluminum rising 1.3% and nickel falling 0.4%.
source: mining.com
Related News
Nine Hours ago
Nine Hours ago
Top News
Seven Minutes ago
Three last month
Tongling Metals warns US tariffs to drag short-term copper outlook
Vale sees iron ore prices above $85 a ton despite tariff turmoil
Western investors are piling into gold market after three-year hiatus
Billionaire Paulson says central banks will keep buying gold
Trump signs executive order boosting deep-sea mining industry
Barrick Gold seeks buyers for its last mine in Canada
China alumina exports surge to seven-year high as surplus widens
Burkina Faso grants mining lease to Russia’s Nordgold
Chinese copper inventories post record weekly drop
McEwen weighs Argentina share listing as part of copper unit IPO
TMC submits application for deep sea mining under US law
China copper market gauge hits 16-month high on demand flurry
Ghana arrests three Indian nationals suspected of smuggling gold
Zimbabwe restarts minting of gold coins as bullion prices soar to record
Lynas Rare Earths seeks US aid for Texas refinery as costs surge
China’s first-quarter gold consumption falls 6%
Kazakh gold miner Solidcore says Q1 gold production fell by 42%
STAINLESS STEEL BLOOMING MILL FOR FAGERSTA
Mozambique’s coal mines shed hundreds of workers as prices slump
McEwen weighs Argentina share listing as part of copper unit IPO
TMC submits application for deep sea mining under US law
China copper market gauge hits 16-month high on demand flurry
Ghana arrests three Indian nationals suspected of smuggling gold
Zimbabwe restarts minting of gold coins as bullion prices soar to record
Lynas Rare Earths seeks US aid for Texas refinery as costs surge
China’s first-quarter gold consumption falls 6%
Kazakh gold miner Solidcore says Q1 gold production fell by 42%
STAINLESS STEEL BLOOMING MILL FOR FAGERSTA