Spot buying interest for copper in both China and the United States was limited over the week ended Tuesday May 25, with buyers wary of price fluctuations.
Chinese buying interest remains low
China's copper premiums were stable over the seven days after consecutive weeks of declines.
Fastmarkets assessed the daily benchmark
copper grade-A cathode premium, cif Shanghai, at $20-35 per tonne on Tuesday, unchanged for almost two weeks.
Import appetite for the red metal remained sluggish, although the price of copper on the London Metal Exchange retreated from highs following the
Chinese government's repeated warnings relating to the price surges in copper and other commodities.
Following a State Council meeting on May 19 about possible control measures on the "unreasonable" price rally, the Chinese government held a meeting with key iron ore, steel, copper and aluminium producers on...