Shanghai copper trend is volatile and the market transaction is average

In terms of the market, today's domestic spot copper prices rose, Yangtze River non-ferrous metal network 1# copper price was reported at 52410 yuan / ton, up 320 yuan, premium 30-liter 90; Guangdong spot 1# copper price was 52460 yuan / ton, up 290 yuan; Yangtze River spot 1# copper price 52550 yuan / ton, up 350 yuan, premium 70-liter 90; Shanghai spot 1# copper price was 52460 yuan / ton, up 350 yuan
.

In the spot market, the source of goods is loose, downstream consumption is general, middlemen are mainly traded, and the transaction is general
.
Tensions between China and the United States and overseas epidemic risks have dampened the upward trend in copper prices, but there is some support
below copper prices due to solid demand in China and ongoing supply disruptions in Chile.

Industry News:

1.
According to the latest data released by the General Administration of Customs, China's imports of unwrought copper and copper products were 656,000 tons in June and 436,000 tons in May, an increase of 50.
5% month-on-month and 98.
8% year-on-year; China imported 1.
594 million mt of copper ore and its concentrate in June, compared with 1.
69 million mt in May, down 5.
7% month-on-month and up 8.
7%
year-on-year.

2.
According to the data, the average operating rate of brass rod enterprises in June was 64.
07%, down 0.
64 percentage points from the previous month and 8.
34 percentage points
from the same period last year.
The impact of the overseas epidemic on domestic exports is still continuing, and the orders of enterprises that are mainly export-oriented for plumbing and valves downstream of brass rods remain weak, and the performance of the brass rod industry fell again in June, but the month-on-month decline in operating rate has narrowed and is slowly bottoming out
.
Relatively speaking, large enterprises have a variety of product routes, or take the high-end market, and the overall production order performance is relatively stable
.

3.
On July 13, 2020, the Australian Anti-Dumping Commission issued Announcement No.
2020/071, stating that in response to the application submitted by the Australian enterprise Metal Manufactures Pty Ltd.
(MM Kembla), anti-dumping and anti-subsidy investigation was initiated on copper tubes imported from China, and anti-dumping investigations were initiated on copper tubes imported from South Korea
.
The dumping and subsidy investigation period in this case is July 1, 2019 ~ June 30, 2020, and the injury investigation period starts
from July 1, 2016.
The Australian customs code for the product involved was 7411.
10.
00.
11
.
Stakeholders should submit relevant materials
by August 19, 2020.