반기 보고 기간 중 공급 과잉, 하류의 신중함으로 현물 할인 축소 [SMM 북중국 현물 구리]

[SMM Shanghai Spot Copper] Tomorrow, on the inventory front, SMM data shows that Shanghai social inventory stood at 134,200 mt, down 4,100 mt WoW from last Thursday; Jiangsu inventory stood at 41,200 mt, down 900 mt WoW. Although some imported cargo arrived at ports, overall warehouse withdrawals last week were good, and inventory continued a slight destocking trend, providing some support for spot discounts. Supplier side, the month-end selling pressure has been largely released, and market shipments have returned to normal pace. Supplier quotations were relatively stable during the day, showing no signs of significant downward adjustments. Moreover, some suppliers are bullish on the premiums outlook, and their willingness to hold prices firm has strengthened. From the invoice structure, cargoes with invoices dated this month remain relatively tight, with a certain price spread maintained between current-month and next-month invoices. Overall, with the end of month-end selling, inventory destocking, and suppliers' firm price stance, the overall discount center of Shanghai spot copper against the 2607 contract is expected to edge up further tomorrow.

SMM 분석 | 6월 30일은 미국 무역확장법 232조 구리 조사의 중요한 분기점입니다. 정제 구리 관세는 예정대로 진행될까요? 광범위한 관세, 표적 조치, 유예 및 면제 등 어떤 결과가 나오든, 이번 결정은 COMEX-LME 차익거래, 미국 현물 프리미엄, 글로벌 구리 무역 흐름, 지역별 공급 역학을 재편할 수 있습니다.