계약 롤오버 이후 하류 문의가 부진한 가운데, 가격 고수로 북중국 현물 구리 프리미엄이 상승했다 [SMM 북중국 현물 구리]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, the current social inventory continues to destock rapidly. SMM data shows that Shanghai's social inventory recorded 76,500 mt, down 9,100 mt MoM; Jiangsu's social inventory recorded 19,500 mt, down 6,900 mt MoM, with available spot cargoes remaining persistently tight. From the perspective of supplier behavior, after low-priced cargoes were quickly digested, the market found it difficult to locate discounted cargoes, and suppliers held firm in their intention to support prices. High-quality copper premiums were maintained at a high of 360-400 yuan/mt. After the contract rollover, the backwardation spread between the front-month and next-month contracts narrowed but still stayed at a relatively high level. Overall, with inventory continuing to destock and limited replenishment arrivals, Shanghai spot copper prices against the SHFE 2608 contract are expected to remain at a premium tomorrow, with the overall center possibly moving slightly higher.

[SMM 구리 사회 재고 속보] 2026년 7월 16일 기준, SMM 중국 주요 지역 구리 음극 사회 재고는 지난 목요일(7월 9일) 대비 4만 1,600톤 감소하여 12만 3,400톤으로 떨어졌다. 지역별로 보면, 상하이와 장쑤에서는 수입·국내 입고량 부족이 지속되어 재고가 크게 줄었고, 광둥에서는 입고량 감소와 최종 소비 부진으로 수급 약세 속에서 재고가 소폭 감소했다.