Main sea freight index at Baltic Exchange remains steady at 870 points

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, according to the Central Meteorological Observatory, this year's No. 9 typhoon "Bawei" has strengthened into a super typhoon. It is expected to approach the eastern sea areas of China around July 10, with a high probability of making landfall in east China. Affected by this, downstream copper semis processing plants in Jiangsu and Zhejiang are concerned that subsequent strong winds and rainstorms from the typhoon could disrupt logistics and production arrangements. They are therefore concentrating on advance stockpiling purchases, pushing up the overall center of Shanghai spot copper premiums. Observing supplier behavior, market transactions were active, and after low-priced cargoes were quickly absorbed, suppliers' willingness to hold prices firm further strengthened. Overall, under the combined effect of the concentrated release of typhoon stockpiling demand, suppliers holding prices firm, and continuous inventory destocking, Shanghai spot copper prices against the SHFE copper 2607 contract are expected to remain at a premium tomorrow, with the overall center continuing to edge up.

[Flash SMM Billettes de laiton] Selon les retours d’une enquête de terrain menée auprès d’un échantillon d’entreprises de billettes de cuivre à l’échelle nationale, les attentes du marché concernant les performances du secteur en juillet sont globalement pessimistes. Les moteurs d’amélioration à court terme restent insuffisants et de multiples facteurs négatifs continueront de fermenter. SMM prévoit que le taux d’utilisation global des producteurs chinois de billettes de cuivre reculera de 2,44 points de pourcentage en glissement mensuel pour s’établir à 43,65 % en juillet, soit une baisse de 1,17 point de pourcentage en glissement annuel. La tendance à un fonctionnement à bas niveau du secteur devrait persister.