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Copper Prices Reach a New High in October
2017/11/25
On October 17, copper prices reached a new high in the past four years. Changjiang Metal Net 1# Copper quoted RMB 55,640 (US$ 8,380) per ton, up RMB 1,920 (US $ 290). Guangdong 1# Copper quoted RMB 55,470 (US$ 8,350) per ton, up RMB 2,020 (US$ 300). Shanghai 1# electrolytic copper quoted RMB 55,600 (US$ 8,370) per ton, up RMB 1,650 (US$ 250).
 
The increase in copper prices can be attributed to tighter supply, a weaker dollar index, and increasing demand related to global economic recovery. The domestic terminal demand is steadily rising and the inventory is decreasing. From a long-term view, copper prices are expected to increase further.


Copper prices are rising in China

Meanwhile, R134a prices remained steady. Manufacturers quoted R134a prices in the range of RMB 26,000-28,000 (US $ 3,900-4,200) per ton. Because the overall production levels are still low, the market supply is still very tight, with few new transactions. In addition, due to tight supply of the raw material hydrofluoric acid, the market price is still rising. But currently, it is still the offseason, so market demand is limited. It is expected that R134a prices will still remain steady for a while.
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