Copper price trajectory wavered and slightly surged in the week beginning August 14. The weekly copper price capped-off at 68,906.67 RMB/ton, a surge of 0.98% compared to the 68,236.67 RMB/ton on August 14. It also happened to be a Y-O-Y hike of 10.52 %.
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Talking of the last three months, the copper prices had dipped and upped for 4 weeks and 8 weeks respectively. The recent weeks saw a constant hike though.
The copper mining and availability was profuse, overall. The production of copper is expected to uprise significantly considering the centralised maintenance of domestic smelting wrapped in August (though the centralised maintenance would switch on again in September). The Russian imports of copper kept adding to the supply; the Lomo copper was a bit languid considering the availability though pinning to the African transportation indolence in terms of capacity.
The demand dynamics remained slightly on the passivity. Some enterprises related to air conditioning and refrigeration burrowed into the phase of maintenance and vacation while the consumer end turned debile and doddering. However, the real estate had somewhat nudged the demand trend to the upper side. Southern Power Grid and State Grid, too, relished the upswing in the orders (July and August)
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According to Procurement Resource, the copper prices in the recent time have surged a bit compared to the week-on-week basis. While there has been continuous episodes of highs and lows in the copper market, the overall prices have cavorted in last three months. The demand-supply equation of copper will remain a bit tiddling given to its continuous fluctuation causing it to needle up and down on the price scale.
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