Rising prices of futures widen spot copper discounts

Published: Jun 6, 2018 14:40

Save

Spot copper was mostly offered at a discount of 60 yuan/mt to flat over the SHFE 1806 contract in the Shanghai market on Wednesday June 6

SHANGHAI, Jun 6 (SMM) – Spot copper was mostly offered at a discount of 60 yuan/mt to flat over the SHFE 1806 contract in the Shanghai market on Wednesday June 6. This compared with a discount of 30 yuan/mt to a premium of 30 yuan/mt on Tuesday June 5.

The SHFE 1806 contract traded robustly this morning. It gained over 700 yuan/mt from the previous day to close at 52,580 yuan/mt in the morning trading session. Prices of the 1806 contract stood 200 yuan/mt lower from that of the 1807 contract on Wednesday.

Sellers were keen to destock as prices of futures soared. High-quality copper was offered at a discount of 20 yuan/mt at noon, from flat over the 1806 contract in the morning. Discounts of standard-quality copper deepened from 50-40 yuan/mt in the morning to 60 yuan/mt at noon.

Most transactions were accounted for by traders who purchased when discounts widened. High-quality copper was preferred in long term contracts.

At noon, high-grade copper traded at 52,550-52,620 yuan/mt and standard-quality copper traded at 52,520-52,580 yuan/mt.

For editorial queries, please contact Daisy Tseng at daisy@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn

Market commentary Futures movement Spot copper

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 23:56

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

Feb 6, 2026 23:56

Feb 6, 2026 23:54

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

Feb 6, 2026 23:54

Feb 6, 2026 23:47

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

Feb 6, 2026 23:47