1. Today’s price
2. Market summary
Shanghai market: Copper prices opened higher overnight, fluctuated and fell during the day, and the overall trading focus shifted lower than the previous trading day. Spot premiums continued to fall, and the focus of transactions was lowered. The mainstream quotation in the morning maintained the transaction level of yesterday, initially quoted at 280 yuan/ton, but the supply of spot goods in the market increased, and some cargo holders intended to lower the premium for quick shipment, such as Japan, South Korea, JCC and other supply sources were quoted at 250~260 yuan. / ton, however, under the narrow range of copper prices, the downstream purchasing enthusiasm in the market is average, and the transactions are slightly deadlocked; a few companies have lowered the price again to around 220~230 yuan / ton to facilitate transactions, and the transactions have relatively improved. Good copper Guixi, Jinchuan, ENM The supply of goods also subsequently fell to an increase of 250~260 yuan/ton; however, the market price support sentiment still exists, and traders of mainstream Pingshui copper brands still have a firm premium of 250 yuan/ton for shipments.
Foshan market: Copper prices remain volatile today. Guangdong's social inventory continues to decline, and the market supply is tight. Most traders say they have no goods to sell. In addition, traders have a strong sentiment to raise prices, and today's water premiums have risen sharply. In the face of high water prices, downstream replenishment has entered the market at a discount, and just-necessary purchases are host. The low price of 400 yuan/ton in the morning was quickly traded, and the rising price was subsequently raised, with some transactions rising by 500 yuan/ton.
Tianjin market: The market price has maintained a fluctuation of 67,400 yuan for a long time. The spot price premium in North China has fallen, and there is not much supply of goods in the market.
Chongqing market: The spot market is still relatively tight at present, making it difficult to lower the premium. In addition, as the delivery month is approaching, the price difference between far and near copper futures contracts has widened. The trading sentiment of downstream copper factories is cautious. Most holders said that long orders are tight. The atmosphere of zero-order transactions was deserted, and the transaction volume was around 100 tons.
3. Transaction status
Shanghai market: Overall, although the monthly difference in BACK has narrowed, as delivery goods are approaching, dealers are in a mood to ship goods for cash, and the spot premium continues to fall. Next week will coincide with the delivery of the 11 contract. It is expected that under the high BACK situation, downstream consumption will be difficult to significantly boost, and the premium may first decrease and then increase.
Foshan market: Downstream companies mainly purchase goods for immediate needs, and the overall transaction volume in the Guangdong market today is average.
Tianjin market: Transactions remain weak, with most transactions between traders, and the transaction volume of downstream companies is around 300 tons.
Chongqing market: The premium remains high, the spot price is on the high side, and the transaction performance begins to weaken after the initial demand.
4. Regional price differences
