SMM July 14: today, the spot contract for electrolytic copper in Shanghai is quoted at 30 yuan per ton for the current month, with a transaction price of 52050 yuan per ton to 52150 yuan per ton, and a transaction price of 52070 yuan per ton to 52170 yuan per ton. Some bullish positions left the market, and the high level of copper in Shanghai fell back to 52000 yuan / ton, a decline of about 800yuan / ton. Approaching delivery month, speculators favor low-price sources of goods. The morning market quotes flat water to rise water 20 yuan / ton, the market stops to wait and see, buying is less, after 10:30, the price difference changes sharply every other month, and the price difference returns, which is higher than 10: 20 yuan / ton in recent months. The low-price supply is favored by the market to buy actively, after the flat water copper quotation rises 10 yuan / ton, the good copper quotation rises 20ml 30 yuan / ton; Wet copper is abundant, consumption has not improved significantly, the price of the holder is enthusiastic, and the price is lower than yesterday, from 60 RMB 70 yuan / ton to 90 yuan / ton. In the face of drastic changes in price spreads, traders are cautious in trading, mainly buying bargains. During the week, the performance downstream of sharp rises and falls is still cautious and the activity is low. Tomorrow, we will pay attention to the guidelines for spot quotations due to the changes in the price difference between two months. Today, some consignors have quoted prices in August, and the basic performance remains stable from flat water to rising water 30 yuan / ton.

(Chen Ming 021 muri 51595816)