SMM July 10: today, the spot price of electrolytic copper in Shanghai is quoted as a discount of 10 yuan / ton to the monthly contract, the flat copper transaction price is 50560 yuan / ton ~ 50650 yuan / ton, and the rising copper transaction price is 50570 yuan / ton ~ 50660 yuan / ton. Copper futures in Shanghai remained high and fluctuated at 50600 yuan / ton. Approaching the delivery cycle, speculators prefer low-cost sources of goods, the morning market quoted 10 ~ 30 yuan / ton, the market is not attractive. Speculators take advantage of the opportunity to lower the price, and the quotation is reduced to 10 yuan / ton, and there is still room to enlarge the price. Around 10: 00, the flat copper price can be reduced to 10 yuan / ton at a discount, while the price of good copper is limited to 10 yuan / ton to 20 yuan / ton. Downstream bargain buying, wet copper than yesterday slightly narrowed to 80 ~ 60 yuan / ton discount. The market continues to show the characteristics of strong and weak in the period, and the fear of heights continues to ferment, restraining market consumption, but with the approaching delivery period, the base margin continues to narrow, which limits the room for expansion under the discount to a certain extent, but the supply of goods in the market is still loose. It is also difficult to lift the water again.