1. Today’s price
2. Market summary
Shanghai market: As delivery is approaching, the monthly difference in BACK still fluctuates around 300 yuan/ton, and the spot premium continues to fall during the day. Some traders actively cut prices for shipments. The mainstream quotation in the opening market quickly dropped to 140~150 yuan/ton. The price difference of good copper 3C-P was about 10 yuan/ton. Although the center of gravity of copper prices fell, the downstream sentiment of entering the market to receive goods was not high. Transaction performance is relatively limited
Foshan market: Copper prices fluctuated and fell back today. Guangdong's social inventory continues to decline, and the tight supply of goods in the market has not changed. The volume of goods arriving over the weekend has not increased significantly, and social inventory remains low. In addition, traders have a strong sentiment to raise prices. Today's premium fell slightly, but it is still stable at a high level; in the face of high rises Underwater downstream replenishment enters the market at low prices, mainly purchasing for urgent needs. The premiums in East China have fallen sharply, and the price difference between Shanghai and Guangdong has further widened.
Tianjin market: Market prices fell slightly, and spot quotations in North China were lowered. However, downstream companies are currently relatively bearish, and there are still few transactable goods in the market and demand is low.
Chongqing market: Although some imported copper arrived over the weekend, most of it was wet-process copper. There was still not much spot copper in flat water, and the market circulation was still tight, so regional premiums and discounts were still high.
3. Transaction status
Shanghai market: Although the center of gravity of copper prices fell, the downstream sentiment of entering the market to receive goods was not high, and the transaction performance was relatively limited. As a result, a few holders continued to lower the price to 130 yuan/ton, and the transactions were relatively good. In the follow-up market, mainstream flat-water copper quotations basically stabilized at 130-140 yuan/ton, while a small number of supply sources such as South Korea were quoted at 120 yuan/ton. Good copper Jinchuan plate also followed the decline and rose to 160 yuan/ton, with concentrated transactions.
Foshan market: Downstream companies mainly purchased goods for rigid needs at low prices. The overall transaction volume in the Guangdong market today was average.
Tianjin market: The overall transaction volume is low. As the delivery month is approaching, the consumption of refined copper has entered a period of weakness, and the purchases of companies basically fluctuate around 100-200 tons.
Chongqing market: In addition, due to the approaching delivery month change and the high price difference of copper futures contracts, most downstream copper factories said they would purchase after the month change. Most holders said that the zero-order trading atmosphere was relatively deserted and the trading volume was very few.
4. Regional price differences
5. Market sentiment
Near delivery, due to the large monthly difference in the BACK structure, some traders are still in a strong mood to actively reduce prices and ship goods, and the downstream purchasing sentiment is mostly on the sidelines. The immediate demand for receiving goods is mainly, and the spot transactions are relatively average.
