On July 29, the Shanghai spot copper price showed a mixed trend amid fluctuating global market conditions. The chart reflects the daily movements of copper prices in the Chinese market, which is one of the largest consumers of the metal worldwide.
The price started the day with a slight increase, driven by continued demand from the manufacturing sector and concerns over supply chain disruptions. However, as the trading session progressed, the price faced downward pressure due to weaker-than-expected economic data from major economies.
Traders are closely monitoring both local and international factors, including inventory levels, energy costs, and macroeconomic indicators. The Shanghai Futures Exchange (SHFE) plays a key role in shaping the price dynamics for copper in Asia.
This chart serves as a useful reference for investors and industry participants looking to track short-term price movements and make informed decisions. Keep an eye on upcoming economic reports and geopolitical developments that could influence the copper market in the days ahead.
(520 characters)Tianjin Alcoa International Trade Co., Ltd. , https://www.tjalcoa.com