Market summary
Shanghai market: Copper prices opened lower and moved higher overnight, fluctuating within a narrow range during the day, and the overall trading center of gravity moved higher than the previous trading day. Spot premiums were reported higher and lower, and the focus of transactions was slightly raised. Market quotations were relatively cautious in the morning, with a few cargo traders such as South Korea and JCC testing prices rising by 600-620 yuan/ton, and copper prices rising again. The purchasing sentiment in the downstream market remained relatively wait-and-see, and the spot transaction atmosphere remained deadlocked; as individual cargoes in the market The dealer sharply lowered the price to 530~550 yuan/ton for shipment, and the mainstream quotation gradually fell to around 550 yuan/ton, and the transaction performance rebounded slightly. Later, near the close of the morning, the mainstream flat-water copper quotation fell again to 500 yuan/ton. Ton. Overall, copper prices remain strong and volatile, and spot premiums continue to face greater upward pressure. In addition, as the week is approaching the end of the month, it is expected that downstream consumption has limited room for recovery, and premiums may fall back.
Foshan market:
Copper prices fluctuated upward today, and low inventories provided certain support for copper prices. The arrival of goods in the market increased over the weekend, and the inventory increased slightly compared with last week. However, the tight supply situation is difficult to change. Traders continue to raise prices for shipments. In the morning market, the spot quotation is 560~650 yuan/ton; high water prices suppress downstream purchasing sentiment, and downstream construction starts The rate has dropped, and there are basically no transactions at high prices. The main transaction premium today is 560~580 yuan/ton.
Tianjin Market: Spot prices continue to fluctuate at high levels. The current transactions in the North China spot market are basically in the long-term game. There are limited tradable goods in the market, the quotations of smelting companies are also high, and downstream consumption is relatively average.
Chongqing market: The overall market transaction today was average. At the beginning of the transaction, the quotations of electrolytic copper in the Sichuan and Chongqing markets were relatively chaotic due to the different spot prices of various holders. Copper prices rose slightly today, and the superimposed premiums and discounts have been at a high level recently, inhibiting the buying interest of downstream processing companies, and the market consumption enthusiasm is mediocre. Some holders reported that today's orders were mainly long-term orders, with a small number of zero-order orders that were just needed.
Transaction status
Shanghai market: Copper prices were strong and volatile during the day, and the spot premium was significantly higher in the morning. The downstream wait-and-see mood showed, and spot transactions were poor. The supply of goods circulating during the day was also relatively limited, and stockholders maintained a price support sentiment, with premiums rising slightly.
Foshan market: Downstream procurement is mainly for rigid needs, and the overall transaction volume in the Guangdong market today is average.
Tianjin market: The overall demand is going down, the spot price is on the high side, and the downstream basically takes about 200 tons of goods.
Chongqing market: The dual effects of high copper prices and high water premiums have made downstream processing companies choose to purchase cautiously, so the market transaction atmosphere is slightly deserted.
Regional spread
