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Copper market in China was faintly on the lower price trend In January 2024. China's copper market witnessed a slight dip in prices, with a 0.86% decrease as compared to December 2023, as indicated by the Procurement Resource pricing database.
The spot processing fee for treatment charges for imported copper concentrate was seen on a downward trajectory, narrowing the profit margins of smelters.
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Furthermore, disturbances in overseas copper mine supply were consistently seen on the rise, disrupting the procurement of raw materials by Chinese smelting enterprises.
The period leading up to the Spring Festival and the ensuing holidays for manufacturers contributed to an insipid and passive trading environment. Despite the availability of high-priced goods, their lack of appeal led to diminished spot consumption, reflecting the market's cautious sentiment.
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According to Procurement Resource, in January 2024, China's copper market experienced a 0.86% price dip, influenced by declining spot treatment charges and disrupted overseas supplies, squeezing smelter profit margins. Additionally, the pre-Spring Festive vibes and holidays led to weak demand and trading, further pressuring the copper prices amidst a cautious market atmosphere.
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