SHFE Copper Futures Fluctuate with Slight Price Decline and Inventory Accumulation

Published: Jun 12, 2025 17:47

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In the morning session, SHFE copper futures fluctuated rangebound. After opening above 78,960 yuan/mt, prices oscillated repeatedly between 78,960 and 79,030 yuan/mt. Prices fell during the day, with the price spread between futures contracts for consecutive months (BACK) widening to fluctuate between 170 and 180 yuan/mt. The import loss for SHFE copper in the current month also narrowed to within 1,000 yuan/mt. According to SMM data, all the export shipments from domestic smelters arrived at bonded warehouses in the early stage, and inventory buildup in the bonded area reached 1,700 mt this week, bringing the total to 59,700 mt.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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