Shanghai Copper Spot Market Report on April 26th

Update：3/16/2025 2:49:12 PM

SMM April 26th News: Today, Shanghai electrolytic copper spot offers a discount of 70 to 50 yuan/ton for the current month's contract, with a transaction price of 48750 yuan/ton to 48820 yuan/ton for flat copper and 48840 yuan/ton to 48900 yuan/ton for raised copper. The US dollar reached a new high in nearly two years, rising to 98.3, and copper prices both domestically and internationally broke through. Today, Shanghai copper futures fell to the level of 48800 yuan/ton. Long term orders have ended, and there has been a significant increase in the number of invoice holders quoting prices for today and next month. Due to the upcoming May Day holiday, some downstream enterprises still have demand for invoices for this month, and the price difference between this month's invoices and next month's invoices has widened to 30-40 yuan/ton. The market has not stopped at a discount of 30 to 60 yuan/ton on the invoice quotation for the current month. The market quotation has started the process of lowering, with good copper quotations being adjusted to a discount of around 40 yuan/ton and flat copper quotations being adjusted to a discount of 50 yuan/ton. The market demand is highly targeted. The quotation for holding next month's invoices has been reduced from a discount of 50~40 yuan/ton to a discount of 70~20 yuan/ton, but it still lacks buying appeal for traders and downstream. Today's wet copper performance has slightly declined compared to yesterday, with a quoted discount of 120 to 80 yuan/ton. Copper prices have plummeted, and some downstream companies have only maintained basic demand. Copper prices below 49000 yuan/ton have still not shown the expected trend of buying at low prices. With the holiday approaching, holders continue to accelerate their cash flow and capital recovery, while small and medium-sized downstream enterprises are also constrained by financial pressure and find it difficult to buy at low prices. Both supply and demand sides in the market have shown a trend of avoiding risks before the holiday. Today's SMM quotation includes the prices for next month's invoices and current month's invoices.

[Reproduction requires retaining the source - Shanghai Nonferrous Network]