Neutral
Copper prices retreat as China demand cools and LME inventories decline.
Over the past 24 hours, copper prices have experienced a slight decline due to cooling demand from China, the world's largest consumer of copper. Concurrently, inventories in London Metal Exchange (LME) warehouses have decreased, indicating potential supply tightness.
Key points
- China's industrial profits rose by 11.2% in July, a slowdown from June's 15.1%, suggesting weakening demand.
- LME copper prices edged lower to $14,490 per tonne, down from $14,525, amid mixed market signals.
- LME inventories fell to 107,050 metric tonnes, down from 166,775 tonnes, indicating potential supply constraints.
- Copper wire and cable operating rates rose slightly to 66.51%, but high prices are suppressing new orders.
Sources
- Copper extends retreat from record highs as China tests tariff-driven rallyEconomies.com · August 28, 2026
- Copper Wrap: CPER Falls as China Demand FadesThe Rio Times · August 28, 2026
- Copper at US$6.59 as London warehouse supply falls sharplyMining Reporters · August 28, 2026
- Copper Wire and Cable Operating Rates Rose Slightly This Week; Copper Prices Shot Up, Suppressing the Release of New OrdersShanghai Metals Market · August 28, 2026
AI-generated from public news sources. Not financial advice.
