Traders contribute spot copper trading, expect improved sentiment

Published: Jun 29, 2018 14:51

Save

Spot copper was mostly offered at a discount of 190-140 yuan/mt to the SHFE 1807 contract in Shanghai

SHANGHAI, Jun 25 (SMM) – Spot copper was mostly offered at a discount of 190-140 yuan/mt to the SHFE 1807 contract in the Shanghai market on Friday June 29. This narrowed from a discount of 200-150 yuan/mt a day earlier.

The SHFE 1807 contract faced pressure at 51,600 yuan/mt after rising to a high of 51,590 yuan/mt in the afternoon.

On the last trading day of June, transactions were mostly contributed by traders, on expectations of improved sentiment and narrowed spot-futures price gap next week.

High-grade copper mostly traded at a discount of 160 yuan/mt, while standard-quality copper trade at a discount of 190 yuan/mt. Hydro-copper was mostly offered at a discount of 250 yuan/mt, 20 yuan/mt narrower from the previous day amid tighter supply.

At noon, high-grade copper traded at 51,080-51,300 yuan/mt and standard-quality copper traded at 51,060-51,280 yuan/mt.

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 for 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

31 mins ago

Doosan Invests $701.5M to Expand CCL Production in Korea and China Through 2028

Doosan Group said on September 17 that it will invest approximately KRW 968.4 billion (about USD 701.5 million) to expand high-end copper-clad laminate (CCL) production in South Korea and China. Roughly KRW 421 billion will expand domestic CCL lines for optical modules, while about KRW 547.4 billion will build a new plant in Changshu, China, for AI accelerators and network switches via wholly-owned Doosan Electro-Materials Changshu, with an additional KRW 182.4 billion capital injection. The three-year investment runs through 2028, with new lines scheduled to begin operations in the second half of 2028. In H1 2026, utilization at Doosan's Jeungpyeong and Gimcheon plants reached 109.8% and 102.7%, respectively, while the China plant ran at 92.2%. Q2 2026 optical-module CCL sales jumped more than tenfold year-on-year to about KRW 50 billion, and network-board CCL sales reached KRW 369.2 billion, accounting for more than half of the Electronics Business Group's revenue.

31 mins ago

1 hour ago

Copper Cathode Rod Orders Expand, Inventories Decline; Production to Increase 2.31% WoW

[SMM Copper Cathode Rod Flash] New orders continued to expand, and with the holiday approaching, finished product inventories destocked at a faster pace. Production willingness at copper cathode rod enterprises strengthened, and the operating rate is expected to rise 2.31 percentage points WoW next week.

1 hour ago

Copper Rod Enterprises Restock as Prices Fall; Finished Product Inventories Drop Ahead of Holidays

[SMM Copper Cathode Rod Flash] The decline in absolute prices prompted copper rod enterprises to restock intensively, with raw material inventories rising MoM. The pullback in copper prices, coupled with the approaching Mid-Autumn Festival and National Day holidays, encouraged downstream users to stockpile in advance, driving finished product inventories down significantly MoM.

1 hour ago