Restocking hilir dan pengambilan kargo, pasokan pasar menurun [SMM North China Spot Copper]

SMM Morning Meeting Summary: Last Friday night, LME copper opened at $13,638.5/mt, consolidated at lows initially before its center moved higher, then touched a high of $13,681.5/mt. Afterwards, the copper price center fluctuated lower, dipping to $13,605.5/mt near the session’s end, and finally settled at $13,611.5/mt, up 0.34%. Trading volume was 12,600 lots, open interest was 248,000 lots, an increase of 728 lots from the previous trading day, driven by bullish position-building. Last Friday night, the most-traded SHFE copper 2609 contract opened at 104,600 yuan/mt, dipped to 104,540 yuan/mt right at the start, then its center rose to touch a high of 104,310 yuan/mt, before moving lower to finally settle at 104,630 yuan/mt, down 0.1%. Trading volume was 25,000 lots, open interest was 207,000 lots, a decrease of 3,481 lots from the previous trading day, reflecting bullish position reduction.

Selama pekan 20–23 Juli, pasar skrap tembaga bergerak dalam tiga latar belakang sekaligus: stok katode tembaga yang rendah dan premi tinggi, pembatasan kepatuhan berkelanjutan akibat penerapan faktur terbalik, serta musim sepi suhu tinggi yang semakin mendalam. Harga penutupan tembaga SHFE pukul 11:30 melonjak dari 104.180 yuan/mt menjadi 106.340 yuan/mt, lalu sedikit mundur ke 106.170 yuan/mt pada akhir pekan.