Main sea freight index at Baltic Exchange remains steady at 870 points

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, according to the Central Meteorological Observatory, this year's No. 9 typhoon "Bawei" has strengthened into a super typhoon. It is expected to approach the eastern sea areas of China around July 10, with a high probability of making landfall in east China. Affected by this, downstream copper semis processing plants in Jiangsu and Zhejiang are concerned that subsequent strong winds and rainstorms from the typhoon could disrupt logistics and production arrangements. They are therefore concentrating on advance stockpiling purchases, pushing up the overall center of Shanghai spot copper premiums. Observing supplier behavior, market transactions were active, and after low-priced cargoes were quickly absorbed, suppliers' willingness to hold prices firm further strengthened. Overall, under the combined effect of the concentrated release of typhoon stockpiling demand, suppliers holding prices firm, and continuous inventory destocking, Shanghai spot copper prices against the SHFE copper 2607 contract are expected to remain at a premium tomorrow, with the overall center continuing to edge up.

[SMM Flash sobre Tarugos de Latão] Com base nos retornos de pesquisas de campo de uma amostra de empresas de tarugos de cobre em todo o país, as expectativas de mercado para o desempenho do setor em julho são, em geral, pessimistas. Os impulsionadores de melhoria de curto prazo permanecem insuficientes, e diversos fatores negativos continuarão a se agravar. A SMM espera que a taxa de operação abrangente dos produtores chineses de tarugos de cobre recue 2,44 pontos percentuais na comparação mensal, para 43,65% em julho, queda de 1,17 ponto percentual em relação ao ano anterior. A tendência de operação em nível baixo do setor deve continuar.