August 7th Shanghai Copper Spot Market Report

Update：3/16/2025 2:41:56 PM

SMM, August 7th News: Today, Shanghai electrolytic copper spot trading reported a premium of 50 yuan/ton to 100 yuan/ton for the current month's contract, with a transaction price of 49240 yuan/ton to 49330 yuan/ton for flat copper and 49260 yuan/ton to 49350 yuan/ton for premium copper. Shanghai copper futures fluctuated around the 20 day moving average range, with a monthly price difference of around 90 yuan/ton in the morning market. The bullish sentiment of holders in the morning market was still high, with a price increase of 80-110 yuan/ton. The market was afraid of the high price increase and lacked interest, with few transactions. Subsequently, the price difference narrowed to around 70 yuan/ton every other month, and the import ratio window opened. In order to open up sales channels, holders lowered their premium prices. The premium price for flat copper increased by 60-70 yuan/ton, which led to improvement. Good copper saw the largest decrease, with transactions concentrated at around 80 yuan/ton, but the transaction volume was still lower than yesterday. In the second trading session, the market inflow of silver Honglu warehouse receipts and Jintian warehouse receipts was quoted at a premium of around 50 yuan/ton, greatly affecting and weakening the price holding sentiment of holders, resulting in a decline in quotes, and transactions could be made at a lower price. Good copper was priced at a lower premium of 70 yuan/ton. Downstream bargain hunting transactions are still acceptable, but the price of wet copper is relatively high, with a premium of 20-40 yuan/ton. Whether Gaosheng Water can continue depends on the inflow of imported copper and the performance of the price difference every other month.

[Reproduction requires retaining the source - Shanghai Nonferrous Network]