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June 14 Shanghai copper spot market KuaiBao
Jun 14,2019 11:38CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM June 14-Today, Shanghai electrolytic copper spot on the current month contract water 40 ~ 90 yuan / ton, flat water copper transaction price 46420 yuan / ton ~ 46540 yuan / ton, water copper transaction price 46440 yuan / ton ~ 46560 yuan / ton. The strike in Chile boosted copper prices, with Shanghai copper rebounding to 46400 yuan per ton. Every other month, the basis fluctuates in the range of 50 to 60 yuan / ton, and the holder has no intention of lowering the rising water, the quotation is stable at yesterday's level of 50 to 90 yuan / ton, the transaction still shows the characteristics of chainsaw, the flat copper can be pressed to 40 yuan / ton to get the goods, good copper can be reduced to 70 to 80 yuan / ton range; downstream there is no desire to replenish a large number of goods over the weekend, still maintain rigid demand, wet copper basically maintain discount 20 yuan / ton ~ flat water quotation. The market is still dominated by trading between traders, mainly every other month when the price spread is expanded, traders want to receive goods at a low price, but the source of low-price goods is also difficult to find. After the completion of the delivery of the 1906 contract next Monday, the spot rise will not be sustained, as imported copper will continue to enter the market, supply will remain loose, downstream consumption will be difficult to boost, the mainstream transaction is mainly long-term single delivery. The market may remain stable at its current level before delivery.

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