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Copper prices fell as China’s refined copper production rose 12.3% in November.
Copper prices experienced a 0.67% decline, closing at 720.8, influenced by China’s notable 12.3% YoY surge in refined copper production, reaching 1.14 million metric tons in November. Daily output averaged 38,000 tons. Additionally, Shanghai Futures Exchange-monitored warehouses saw a 13.4% increase in copper inventories from the previous Friday. Concerns over supply shortages contributed to a 25% drop in Chinese spot market copper concentrate processing fees, falling below $70 per metric ton.
