The most-traded BC copper contract fell by 0.79%, and the price spread between SHFE copper and BC copper narrowed [SMM BC Copper Commentary]

Published: Jun 20, 2025 17:22

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Today, the most-traded BC copper 2507 contract opened at 69,530 yuan/mt, closing bearish with an increase in bears' open interest. During the night session, the most-traded BC copper contract fluctuated downward, touching a low of 69,320 yuan/mt. During the day session, international copper futures touched a high of 69,680 yuan/mt. In the afternoon, the center of copper prices continued to move lower, touching a low of 69,120 yuan/mt. It finally closed at 69,170 yuan/mt, down 560 yuan/mt or 0.79%, with an open interest of 2,678 lots, a decrease of 499 lots from the previous trading day, and a trading volume of 1,220 lots.

The SHFE copper 2507 contract closed at 77,990 yuan/mt. If calculated based on the BC copper 2507 contract price of 69,170 yuan/mt, its after-tax price would be approximately 78,162 yuan/mt. The price spread between the SHFE copper 2507 contract and the BC copper 2507 contract was -172, maintaining an inverted spread and narrowing compared to the previous day.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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