“,”elements”:[]}],”thumb_big”:”https://etimg.etb2bimg.com/thumb/msid-118931111,imgsize-12132,width-1200,height=765,overlay-etauto/industry/shanghai-copper-gains-on-signs-of-improving-china-demand.jpg”,”thumb_small”:”https://etimg.etb2bimg.com/thumb/img-size-12132/118931111.cms?width=150&height=112″,”time”:”2025-03-12 15:46:53″,”is_live”:false,”prime_id”:0,”prime_tag”:false,”highlights”:[],”highlights_html”:””,”also_read_available”:false,”body”:”
Refined copper output in China will likely slide in April as more smelters will start equipment maintenance and those suffering severe loss will lower their capacity utilisation rates, analysts at First Futures said in a note.“>
Shanghai copper outperformed its base metals peers on Wednesday, on prospects of improving demand of the red metal used widely in top consumer China‘s power and construction industries.
The most-active copper contract on the Shanghai Futures Exchange (SHFE) closed daytime trade 2.08% higher at 79,410 yuan ($10,962.02) a metric ton.
The contract rose to as high as 79,470 yuan, its highest since September 30, earlier in the day.
Underlying fundamentals are showing improvement, with the ANZ Downstream Copper Demand Indicator showing positive growth, especially in grid infrastructure and electric vehicles, ANZ analysts said in a note.
“Manufacturers, supported by recent stimulus measures, are ramping up production … copper cathode inventories in Shanghai and Guangdong extended declines from a peak due to fewer imports in recent months.”
Refined copper output in China will likely slide in April as more smelters will start equipment maintenance and those suffering severe loss will lower their capacity utilisation rates, analysts at First Futures said in a note.
Copper cathode output among surveyed smelters jumped 5.28% year-on-year to 1.9 million tons in January-February, state-backed research house Antaike said on Tuesday, forecasting March output to grow 4.32% from the year before to 969,000 tons.
China consumes about half of the global copper supply.
Fears of a global trade war, however, curbed price gains, ANZ analysts said.
SHFE aluminium rose 1.04% to 20,970 yuan a ton, zinc added 0.67% to 23,870 yuan, tin advanced 0.38% to 263,480 yuan, lead gained 0.26% to 17,505 yuan, and nickel ticked 0.8% higher at 133,680 yuan.
Three-month copper on the London Metal Exchange (LME) ticked 0.5% higher to $9,727.5 a ton as of 0700 GMT.
LME aluminium edged 0.15% higher to $2,708 a ton, lead added 0.15% to $2,058, nickel advanced 0.58% to $16,575, while tin nudged down 0.18% to $33,100, zinc lost 0.53% to $2,904.5. “,”next_sibling”:[{“msid”:118931083,”title”:”China, EU vow countermeasures against sweeping US steel tariffs”,”entity_type”:”ARTICLE”,”link”:”/news/industry/china-eu-vow-countermeasures-against-sweeping-us-steel-tariffs/118931083″,”link_next_mobile”:”/news/industry/china-eu-vow-countermeasures-against-sweeping-us-steel-tariffs/118931083?next=1″,”category_name”:null,”category_name_seo”:”industry”}],”related_content”:[],”seoschemas”:false,”social_share”:{“fb”:”/news/industry/shanghai-copper-gains-on-signs-of-improving-china-demand/118931111?utm_source=facebook&utm_medium={{DEVICE_TYPE}}”,”x”:”/news/industry/shanghai-copper-gains-on-signs-of-improving-china-demand/118931111?utm_source=twitter&utm_medium={{DEVICE_TYPE}}”,”whatsapp”:”/news/industry/shanghai-copper-gains-on-signs-of-improving-china-demand/118931111?utm_source=wapp&utm_medium={{DEVICE_TYPE}}”,”linkdin”:”/news/industry/shanghai-copper-gains-on-signs-of-improving-china-demand/118931111?utm_source=linkedin&utm_medium={{DEVICE_TYPE}}”,”telegram”:”/news/industry/shanghai-copper-gains-on-signs-of-improving-china-demand/118931111?utm_source=telegram&utm_medium={{DEVICE_TYPE}}”,”copy”:”/news/industry/shanghai-copper-gains-on-signs-of-improving-china-demand/118931111?utm_source=copy&utm_medium={{DEVICE_TYPE}}”},”cat_msid”:25384693,”cat_sub_msid”:false,”msid”:118931111,”entity_type”:”ARTICLE”,”title”:”Shanghai copper gains on signs of improving China demand”,”synopsis”:”The most-active copper contract on the Shanghai Futures Exchange (SHFE) closed daytime trade 2.08% higher at 79,410 yuan ($10,962.02) a metric ton.”,”titleseo”:”industry/shanghai-copper-gains-on-signs-of-improving-china-demand”,”status”:”ACTIVE”,”authors”:[],”Alttitle”:{“minfo”:””},”artag”:”Reuters”,”artdate”:”2025-03-12 15:46:53″,”lastupd”:”2025-03-12 15:46:56″,”breadcrumbTags”:[“consumer”,”China”,”construction industries”,”ANZ Downstream Copper Demand Indicator”,”infrastructure”],”secinfo”:{“seolocation”:”industry/shanghai-copper-gains-on-signs-of-improving-china-demand”}}” data-authors=”[” data-author-list data-category-name=”Industry” data-category_id=”23″ data-cat_msid=”25384693″ data-date=”2025-03-12″ data-index=”article_1″ data-keywords=”consumer, China, construction industries, ANZ Downstream Copper Demand Indicator, infrastructure” data-type=”news”>
The most-active copper contract on the Shanghai Futures Exchange (SHFE) closed daytime trade 2.08% higher at 79,410 yuan ($10,962.02) a metric ton.
- Updated On Mar 12, 2025 at 03:46 PM IST
Refined copper output in China will likely slide in April as more smelters will start equipment maintenance and those suffering severe loss will lower their capacity utilisation rates, analysts at First Futures said in a note.“>
Shanghai copper outperformed its base metals peers on Wednesday, on prospects of improving demand of the red metal used widely in top consumer China‘s power and construction industries.The most-active copper contract on the Shanghai Futures Exchange (SHFE) closed daytime trade 2.08% higher at 79,410 yuan ($10,962.02) a metric ton.
The contract rose to as high as 79,470 yuan, its highest since September 30, earlier in the day.
Underlying fundamentals are showing improvement, with the ANZ Downstream Copper Demand Indicator showing positive growth, especially in grid infrastructure and electric vehicles, ANZ analysts said in a note.”Manufacturers, supported by recent stimulus measures, are ramping up production … copper cathode inventories in Shanghai and Guangdong extended declines from a peak due to fewer imports in recent months.”
Refined copper output in China will likely slide in April as more smelters will start equipment maintenance and those suffering severe loss will lower their capacity utilisation rates, analysts at First Futures said in a note.
Copper cathode output among surveyed smelters jumped 5.28% year-on-year to 1.9 million tons in January-February, state-backed research house Antaike said on Tuesday, forecasting March output to grow 4.32% from the year before to 969,000 tons.
China consumes about half of the global copper supply.
Fears of a global trade war, however, curbed price gains, ANZ analysts said.
SHFE aluminium rose 1.04% to 20,970 yuan a ton, zinc added 0.67% to 23,870 yuan, tin advanced 0.38% to 263,480 yuan, lead gained 0.26% to 17,505 yuan, and nickel ticked 0.8% higher at 133,680 yuan.
Three-month copper on the London Metal Exchange (LME) ticked 0.5% higher to $9,727.5 a ton as of 0700 GMT.
LME aluminium edged 0.15% higher to $2,708 a ton, lead added 0.15% to $2,058, nickel advanced 0.58% to $16,575, while tin nudged down 0.18% to $33,100, zinc lost 0.53% to $2,904.5.
- Published On Mar 12, 2025 at 03:46 PM IST
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