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July 15 SMM Shanghai Copper spot Market Express: the price difference widens in the next month and the spot quotation is higher in the same month.
Jul 15,2020 12:23CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 15: today, the spot price of electrolytic copper in Shanghai is quoted at a price of 30 to 110 yuan / ton for that month's contract, 52370 yuan / ton to 52530 yuan / ton for leveling copper and 52390 yuan / ton to 52550 yuan / ton for copper in Shengshui. Copper in Shanghai continued to consolidate at a high level, rising slightly to around 52400 yuan / ton, an increase of about 300 yuan / ton. Today is the last trading day of 07 contract, the price difference between that month and every other month fluctuates violently, and the price spread in the morning market still fluctuates in the range of 40-70 yuan / ton. Most of the market has moved to 2008 contracts every other month, and the quotations are active, but according to the SMM copper price methodology, SMM is still bidding for 2007 contracts. The market offers a discount of 10 to 20 yuan per ton for 2008 contracts, and the market holds a cautious wait-and-see attitude. Entering the second section, the monthly price difference volatility intensified, the fluctuation expanded to 70,100 yuan / ton range, so traders expressed preference for discounted goods, after a round of active inquiry to buy, the holder raised the quotation, has been difficult to find discounted supply, flat copper concentrated in flat water ~ liter water 10 yuan / ton, good copper price rose to 20 yuan 30 yuan / ton, but the deal immediately showed a stalemate, wet method copper continued low discount 90 ~ 70 yuan / ton, wet method copper continued low price discount 90 ~ 70 yuan / ton, flat copper concentrated in flat water ~ liter water 10 yuan / ton, good copper price rose to 20 million yuan / ton, but the deal immediately showed a stalemate, wet method copper continued low price discount 90 ~ 70 yuan / ton. According to the price difference change, the 2007 contract quotation in that month is concentrated in the price range from 30 to 110 yuan / ton, due to the large price difference between two months, the price range from Pingshui copper to good copper is also on the large side. Today is the last 2007 contract trading day, the market spread has corrected and expanded, and the spot has temporarily shown a situation of rising water in an all-round way, but copper prices are still high, supply is still loose, and transaction difficulties have improved significantly for the time being. I am afraid that after the change of months, we can only maintain the pattern of a small rise in water, and the trend of supply and demand will also continue.

(Chen Ming 021 muri 51595816)

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