Chery Sets New Record with 148,777 Vehicles Exported in March, Up 72% YoY

[SMM SHFE Copper Spot] Looking ahead to tomorrow, last Friday (June 5) the US May non-farm payrolls data significantly exceeded expectations, and the March and April non-farm payrolls figures were revised upward. Market expectations for a US Fed interest rate hike this year intensified, pushing the US dollar index back above the 100 mark and exerting notable pressure on copper prices. According to SMM, after the copper price decline, end-user dip-buying sentiment recovered, with active pricing and orders significantly increasing compared with last Friday, boosting overall market trading activity. Meanwhile, suppliers’ willingness to sell at low prices weakened, and today’s spot discount for SHFE copper narrowed markedly from earlier levels. From the perspective of delivery dynamics, next week is the delivery week for the SHFE copper 2606 contract. As delivery approaches, suppliers are more inclined to ship to delivery warehouses, which is likely to further tighten the availability of low-priced cargo and provide support for the spot discount. The spot discount is expected to continue narrowing before delivery.