After Gold and Silver, Now Copper... All-Time High Brings Copper Bars to Jewelry Market

Appeared in Jewelry Market Amid Soaring Prices
Banned from Sale Due to Market Regulations

Following record highs in gold and silver prices, copper has also reached an all-time high, leading to the appearance-and subsequent ban-of copper bars, or bullion, in China's largest jewelry market.

According to local media outlets such as Hongseong News and Hong Kong’s Sing Tao Daily on January 22, merchants at the Shuibei Jewelry Market in Shenzhen, southern China, recently began selling copper bars with a purity of 999.9, aiming to capitalize on the surge in copper prices. Shuibei Jewelry Market is considered the largest hub for the distribution of precious metals and jewelry in China.

Bullion sold in China. Photo by Hongseong News Yonhap News Agency

The price of a 1 kg "investment copper bar," made in the same form as the commonly known gold bar, ranged from 180 yuan (about 38,000 won) to 280 yuan (about 59,000 won). A representative from a copper bar manufacturing plant told Hongseong News that approximately 200 kg had been sold so far.

Once news of the copper bar sales spread, the market management immediately ordered a halt to sales and instructed all merchants to remove copper bars from their displays.

The reason given was that, according to the market's operating regulations, main sales items are restricted to precious metals such as gold and silver. As a result, there are currently no copper bars on display within the market.

However, merchants told local media that while copper bars are no longer on public display, they still hold inventory and can fulfill custom orders. The media also warned of the risks of speculative losses related to purchasing copper bars.

Experts point out that the unit price of copper bars is significantly higher than the actual spot price of copper, as processing and packaging costs are included. Additionally, when reselling, buyers may receive only 50-60% of their purchase price, making it much harder to liquidate than gold bars, which is considered a key risk factor.

An official from a state-owned bank in Zhejiang Province warned, "Most ordinary people do not understand the principles behind the price fluctuations of metals like copper," adding, "The market is extremely volatile, so people should avoid speculative investments just because it is trending."

Meanwhile, since the beginning of this year, the international price of copper has surpassed 13,000 dollars per ton (about 19 million won), hitting new record highs day after day. Analysts say that the rapid spread of artificial intelligence (AI), which has led to a surge in demand for data centers and power infrastructure, has also contributed to copper's emergence as a key mineral. Some predict that there is potential for further price increases.