Home > Research Prices > Copper Price Slipped as China’s Import Drops to Lowest in Two Years [Sept-08-21]
2021-09-01 2021-08-24 2021-08-08 2021-06-08 2021-03-08 2020-09-08 2021

Copper Price Slipped as China’s Import Drops to Lowest in Two Years [Sept-08-21]

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by RIM Research Team - 562 Views

On the Multi Commodity Exchange, Copper prices in September slips 0.4% or Rs.2.85 from the Tuesday’s settlement price (September 07, 2021) of Rs.714.85/INR, touching Rs.712 (September 08, 2021).

Nagercoil, India. MCX Copper Price in India settled at Rs.712/KG on the 8th of September 2021. Due to weak demand for Copper, there is a continuous decline in Copper prices.

Copper Price touched a yearly high of 798.10 and a low of 472.65. The yearly average price of Copper is 656.23. The Year to Date price of Copper touched a high of 798.10 and a low of 588.2 INR. The Year to Date average price of Copper is 703.23. In the futures market, the cost of Copper touched a month high of 720.00 and a low of 711.05 INR. The monthly average price of Copper for September is 714.26.

Whereas in July and August, there was a rise in the Copper price due to huge demand. On the MCX, the Copper price had reached the highest level of Rs.762.55/KG in July. At the same time, in August, the Copper rate could only reach a high of Rs.736.05/KG. Since then, there has been a continuous decline in Copper prices. According to the MCX of India, on August 20 the Copper rate had reached Rs.692.20/KG i.e. the lowest level. If the Copper’s demand keeps falling, the Copper price may drop below Rs.700 in the coming days.

Futures market experts have again feared a fall in Copper Price in the Multi Commodity Exchange. Due to low demand, speculators have cut their deals significantly, thus there is a continuous drop in the Copper price in the Copper market.

The Reddish-Brown Metal traded at Rs.712/KG in the MCX.

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The COMEX (US Metal Exchange) - Copper prices on the 8th of September traded at $4.2375 per pound. Copper price falls due to China’s import of Copper dropped for the fifth straight month.

Copper rate for yearly touched a month high of 4.8000 and a low of 2.8635. The yearly average price of Copper is 3.9198. The Year to Date price of Copper touched a high of 4.8000 and a low of 3.514. The Year to Date average price of Copper is 4.1913. In the CME Futures, the price of Copper touched a month high of 4.3340 and a low of 4.2750. The monthly average price of Copper is 4.3047.

The August import of Copper metal in top consumer China fell to their lowest since June 2019, as high prices and sluggish economic growth hit demand. China’s Copper imports declined 41% year-on-year in August, falling for the fifth straight month to 394,017 tonnes, customs data showed.

Arrivals of unwrought Copper and products into China, the world's top copper consumer, were 394,017 tonnes last month, the General Administration of Customs said. That was down 7% from July and down 41% year-on-year.

The data showed China’s Copper imports have declined in every month since October last year, except for March, after strong imports in the middle 2020 when China's economy rebounded strongly from the coronavirus pandemic. Factory activity grew at a slower pace in August versus July, although the construction sector, a key copper user, accelerated at its fastest pace since March.

Copper prices in September slip 0.88% from Tuesday’s settlement price, touching $4.2375 per pound on the COMEX market in New York.

To Know about Daily US Copper Scrap price predictions, please visit our General Scrap News Section

MCX

MCX Yearly Copper Price Data

MCX High
798.10
MCX Low
472.65
MCX Avg
656.23

COMEX

COMEX Yearly Copper Price Data

COMEX High
4.8000
COMEX Low
2.8635
COMEX Avg
3.9210

MCX Year To Date Copper Price Data

MCX High
798.10
MCX Low
588.2
MCX Avg
703.23

COMEX Year To Date Copper Price Data

COMEX High
4.8000
COMEX Low
3.514
COMEX Avg
4.1916

MCX Monthly Copper Price Data

MCX High
720.00
MCX Low
711.05
MCX Avg
714.26

COMEX Monthly Copper Price Data

COMEX High
4.3340
COMEX Low
4.2375
COMEX Avg
4.2935
Category : Copper

Tags : Copper Prices