A Glance of China Copper Market 20260721

Source: Mysteel Jul 21, 2026 09:45

Copper prices in China fluctuated and increased further during the reporting period (July 13-17). A decline of U.S. June inflation data suppressed market expectations of Fed rate hikes and pushed the U.S. Dollar index lower, which in turn lent support to copper prices. Meanwhile, despite supplementary inflows of imported copper, the shortfall from low domestic smelter shipments could not be fully offset. As a result, even though spot trading volumes dipped last week due to disruptions such as futures deliveries, China's refined copper retail inventory continued its downward trend, lending support to spot premiums and copper prices.