Today, spot #1 copper cathode in North China traded at a discount of 180 yuan/mt to 120 yuan/mt against the front-month contract, with an average discount of 150 yuan/mt, a decrease of 10 yuan/mt from the previous trading day. The transaction price ranged from 80,180 yuan/mt to 80,360 yuan/mt, with an average price of 80,270 yuan/mt, a decrease of 455 yuan/mt from the previous trading day.

The latest data from SMM shows that the operating rate of enamelled wire industry machinery this week dropped sharply by 2.07 percentage points WoW, to ...

SMM Morning Meeting Summary: Overnight, LME copper opened at $9,997/mt, reaching a high of $10,013/mt shortly after the opening. It then dropped sharply before rebounding to a high, only to continue declining and reaching a low of $9,937/mt near the close. It finally closed at $9,951.5/mt, down 0.58%, with a trading volume of 13,000 lots and open interest of 282,000 lots. Overnight, the most-traded SHFE copper 2508 contract opened at and reached a low of 80,460 yuan/mt, then dropped to a low of 80,370 yuan/mt shortly after the opening. It subsequently rose to a high of 80,760 yuan/mt before fluctuating downward during the session. It rebounded slightly near the close and finally closed at 80,540 yuan/mt, down 0.27%, with a trading volume of 28,000 lots and open interest of 223,000 lots.

SMM reported on July 4: Overnight, LME copper opened at $9,997/mt, reaching a high of $10,013/mt shortly after the opening. It then dropped sharply before rebounding to a high, only to continue declining and hit a low of $9,937/mt near the close, eventually closing at $9,951.5/mt, down 0.58%.