SMM Copper Spot: Discount Widens Amidst Inventory Accumulation, Premium Outlook Bearish

Publicado: Oct 18, 2024 13:28
[SMM Copper Spot] The mainstream flat-water copper for the contract of the current month was quoted at a discount of RMB 60/ton to RMB 40/ton, while high-quality copper was quoted at a discount of RMB 20/ton to flat-water price. The premium for the day rebounded compared with the previous day. However, some holders remained bearish on the future premium. On the one hand, the delivery warehouse receipts of SHFE copper contract 2410 were released and flowed out. On the other hand, a large amount of imported copper would continue to flow in. According to SMM's survey, domestic social warehouses still showed a trend of inventory accumulation this week, and it was expected that the spot premium would continue to decline next Monday.

Declaração sobre a Fonte de Dados: Com exceção das informações publicamente disponíveis, todos os demais dados são processados pela SMM com base em informações publicamente disponíveis, comunicação de mercado e com base no modelo de base de dados interna da SMM. São apenas para referência e não constituem recomendações para a tomada de decisão.

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[SMM Copper Spot] The mainstream flat-water copper for the contract of - Shanghai Metals Market (SMM)