Shanghai Copper Spot Market Report on April 29th

Update：3/16/2025 2:50:19 PM

SMM, April 29th News: Today, Shanghai electrolytic copper spot offers a discount of 40 to 40 yuan/ton for the current month's contract, with a transaction price of 48780 yuan/ton to 48840 yuan/ton for flat copper and 48840 yuan/ton to 48900 yuan/ton for raised copper. Shanghai copper futures fluctuated narrowly around 48800~48900 yuan/ton. In the morning session, the quoted price was discounted by 10 to 40 yuan/ton, but the market's willingness to accept goods was weak. Therefore, the quoted price was reluctantly lowered. Good copper prices dropped directly to a premium of 20 yuan/ton before showing a gradual downward trend. The quoted price for flat copper prices was reduced from a premium of 10 to around 40 yuan/ton, while downstream demand remained stable. Wet copper prices remained stable with a premium range of 100 yuan/ton to 80 yuan/ton. As the May Day holiday approaches, many companies have already entered the end of month settlement, and some personnel are already on vacation. The market is still dominated by bidders, with ample supply of goods and clear willingness to cash in. However, market trade speculation and downstream consumption are in a cautious and wait-and-see state, with few buyers. On the last trading day before tomorrow's holiday, a sluggish market with stagnant quotes will be the mainstream state.