Nanjing City land transfer policy optimization: Shorten project development and listing cycle, cancel two pre-sale restrictions

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 01 Jul , 2026

[Latest Data from the General Administration of Customs] In May 2026, China imported 191,000 mt in physical content of copper scrap and shredded copper scrap. Of which, 123,100 mt were declared at Ningbo Customs, ranking first and accounting for 64.44%; 18,800 mt were declared at Shenzhen Customs, ranking second and accounting for 9.82%. (HS code: 74040000)

[SMM Shanghai Spot Copper] Tomorrow, today was the first trading day of July, a new monthly procurement cycle began, downstream enterprises’ restocking demand at the beginning of the month was released to some extent, and both buying and selling sentiment rebounded markedly, lifting market trading activity. Supplier side, after low-priced cargoes dwindled, suppliers’ willingness to hold prices firm became evident, with the premium for high-quality copper staying at a high of 50-80 yuan/mt. The inter-month price spread was near parity, limiting suppliers’ delivery profits from holding positions, weakening their willingness to sell at low prices, and providing support for spot discounts. Overall, driven by the release of month-start restocking demand, buying interest spurred by low copper prices, and suppliers’ resolve to hold prices firm, spot prices against the SHFE copper 2607 contract tomorrow are expected to edge up.