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Copper market afternoon commentary: Sino-US relations tensions hit market risk sentiment, overnight London copper closed down $46, China's June copper imports climbed month-on-month, copper concentrate port inventories continued to decline, copper materials rose
today.
Today's Shanghai electrolytic copper spot contract reported a premium of 30 ~ 110 yuan / ton, flat water copper trading price of 52370 yuan / ton ~ 52530 yuan / ton, and a premium copper trading price of 52390 yuan / ton ~ 52550 yuan / ton
.
Shanghai copper continued to consolidate at a high level, rising slightly to around 52400 yuan / ton, an increase of about
300 yuan / ton.
Today is the last trading day of the 07 contract, the price difference between the current month and the next month fluctuates sharply, and the morning market spread is still fluctuating
in the range of 40~70 yuan / ton.
Entering the second section stage, the price spread volatility intensified in the next month, and the fluctuation expanded to the range of 70~100 yuan / ton, so traders expressed favor for the source of discounted goods, after a round of active inquiry to buy, the holder raised the quotation, it is difficult to find a discount source, flat water copper concentrated in flat water ~ liter 10 yuan / ton, good copper raised to 20 ~ 30 yuan / ton, but the transaction immediately showed a stalemate, wet copper continued low price discount 90 ~ discount 70 yuan / ton
.
According to the price difference change, the 2007 contract quotation in the month is concentrated in the premium 30 ~ premium 110 yuan / ton, because the price difference in the next month is large, the flat water copper to good copper price range is also large
.
Today is the last 2007 contract trading day, the market spread is positive and widening, spot is also temporarily showing an overall premium situation, but copper prices are still high, the supply of goods is still loose, the transaction is difficult to improve significantly, after the change of month, it may still be able to maintain a slight premium pattern, and the trend of supply and demand tug-of-war will continue
.
