August 7th, 2017 Spot Copper Price Trends in Guangzhou

On August 7th, 2017, the spot copper prices in Guangzhou showed a mixed trend, reflecting the ongoing volatility in global metal markets. The price of copper remained under pressure due to concerns over slowing demand from major industrial economies, particularly in China, which is one of the largest consumers of copper worldwide.

Despite some short-term fluctuations, the overall market sentiment was cautious. Traders were closely monitoring economic data releases and geopolitical developments that could influence supply and demand dynamics. In Guangzhou, local traders reported steady but slow transactions, with many buyers waiting for further clarity before making large purchases.

The day’s closing price for copper in Guangzhou stood at around ¥48,500 per tonne, slightly lower than the previous day’s level. This decline was attributed to weak demand from the construction and manufacturing sectors, both of which are key drivers of copper consumption.

Looking ahead, analysts expected continued uncertainty in the copper market, with prices likely to remain volatile in the near term. Factors such as trade tensions, currency fluctuations, and changes in mining output could all play a role in shaping future price movements.