June 12 Shanghai copper brief commentary

South Reserve East China: average price of electrolytic copper: 53380 yuan, down 420; Liter discount quotation: -60 to -20 yuan, flat
.
In East China, the market fell from a high level, holders narrowed their discount quotations in the morning, the downstream is still afraid of heights and caution, the spot market is oversupplied, and the monthly difference began to shrink also makes the holders weak to hold prices, the intraday premium continued to fall, and the overall transaction situation was slightly worse
.
As of the close, the premium copper mainstream trading pair futures contract discount of 20-30 yuan, flat water copper discount 50-60 yuan, wet copper discount 100-120 yuan
.

South China: average price of electrolytic copper: 53540 yuan, down 420; Liter discount quotation: 110 to 140 yuan, up 10 yuan
.
Guangdong: Shippers expanded premium quotations after the market retreated, but the inventory in Guangdong increased again, and the price of imported copper was relatively cheap, which limited the rise of premiums, and the current downstream demand is still flat, the price is received, and the overall transaction is more general
.
As of the close, the premium copper mainstream trading pair futures contract premium 130-140 yuan, flat water copper premium 100-120 yuan
.

Today, Shanghai copper continued to pullback, copper mine strike concerns faded, coupled with the Federal Reserve's upcoming interest rate decision this week, the dollar may stabilize and rebound, copper prices are expected to still have room
for correction in the short term.
Pay attention to the US CPI
for May.