Today, spot #1 copper cathode in North China was trading at a discount of 150 yuan/mt to 70 yuan/mt against the front-month contract, with an average discount of 110 yuan/mt, a decrease of 20 yuan/mt from the previous trading day. The transaction prices ranged from 78,010 yuan/mt to 78,330 yuan/mt, with an average price of 78,170 yuan/mt, down 275 yuan/mt from the previous trading day.

[As the mid-year approaches, copper cathode rod enterprises strive to maintain production, yet finished product inventories have increased for four consecutive weeks] The weekly (6.13-6.19) operating rate of major domestic copper cathode rod enterprises rose to 75.82% on a WoW basis, up 2.60 percentage points WoW, 0.77 percentage points lower than the expected value, and up 5.67 percentage points YoY.

This week, the operating rate of enamelled wire industry machinery decreased by 0.2 percentage points MoM to 81.9%, while weekly orders saw a slight increase WoW...

Overnight, LME copper opened at $9,619.5/mt, hitting an intraday high of $9,635.5/mt shortly after the opening bell.

On Thursday (June 19) during the early trading session of the US stock market, US President Trump posted that he believed the US Fed should have cut interest rates by 250 basis points in its decision the previous day.

SMM Morning Meeting Summary: Overnight, LME copper opened at $9,619.5/mt, hitting a high of $9,635.5/mt shortly after the opening bell. It fluctuated considerably during the session, hitting a low of $9,590/mt, before rebounding towards the end of the session to close at $9,619.5/mt, down 0.32%. Trading volume reached 12,000 lots, and open interest reached 290,000 lots. Overnight, the most-traded SHFE copper 2507 contract opened at 78,160 yuan/mt, hitting a high of 78,350 yuan/mt shortly after the opening bell. It then fluctuated downward, hitting a low of 78,130 yuan/mt during the session, before rebounding towards the end of the session to close at 78,280 yuan/mt, down 0.27%. Trading volume reached 16,000 lots, and open interest reached 174,000 lots.