Shanghai Copper Spot Market Report on August 30th

Update：3/16/2025 2:55:27 PM

SMM, August 30th News: Today, Shanghai electrolytic copper spot trading reported a premium of 50 to 80 yuan/ton for the current month's contract, with a transaction price of 46700 yuan/ton to 46730 yuan/ton for flat copper and 46720 yuan/ton to 46750 yuan/ton for premium copper. The rebound of Shanghai copper futures has been hindered by pressure on the daily moving average, with a narrow consolidation range of less than 50 yuan/ton within the day. Copper prices have risen slightly by more than 100 yuan compared to yesterday. On the last trading day of August, most of the market entered a settlement state. In the morning, holders of goods continued to quote a premium of 50-80 yuan/ton from yesterday, while flat copper remained stable at a premium of 50-60 yuan/ton. Good copper remained at a premium of 70-80 yuan/ton, and low-priced goods still attracted some traders to buy; There are differences in the quotation of wet copper, with some holders offering a price of 30 yuan/ton at a premium, and a small number of sources offering prices as low as around the level of water. Today, the market is mostly wait-and-see, with a small amount of downstream demand. It is difficult to carry out market trading at the end of the month. Although traders have the willingness to receive goods, prices are difficult to meet expectations, and supply and demand are more likely to fall into a standoff. The characteristics at the end of the month are obvious.

[Reproduction requires retaining the source - Shanghai Nonferrous Network]