El diferencial de precios entre los contratos de cobre SHFE 2610-2611 se amplió rápidamente hasta un backwardation de 710 yuanes/tm.

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, suppliers continuously lowered their quotes during the day to facilitate transactions, and the market transaction center shifted further downward. In early trading, the price spread between SHFE copper 2610 and 2611 contracts consolidated around a backwardation of 600 yuan/mt before rapidly widening, once expanding to around 700-710 yuan/mt during the session. Near-month contracts strengthened further relative to deferred-month contracts, and the backwardation structure between adjacent months deepened notably, exerting some pressure on spot purchases. On the demand side, most downstream processing enterprises have largely completed their pre-holiday stockpiling, leaving limited new purchasing demand. Trading activity in the market is expected to decline further tomorrow. As pre-holiday demand gradually weakens, suppliers face increasing shipment pressure, and spot premiums in Shanghai are expected to continue edging down tomorrow.

El cátodo de cobre Spot #1 en el norte de China se cotizó hoy con primas de 760-860 yuanes/tm sobre el contrato del mes en curso, con una prima media de 810 yuanes/tm, 90 yuanes/tm menos que en la jornada anterior. El precio medio de transacción fue de 110.750 yuanes/tm, 185 yuanes/tm menos que en la jornada anterior.