June 6th Shanghai Copper Spot Market Report

Update：3/16/2025 2:53:05 PM

SMM June 6th News: Today, Shanghai electrolytic copper spot market reported a premium of 130~190 yuan/ton for the current month's contract, with a transaction price of 45980 yuan/ton~46060 yuan/ton for flat copper and 46020 yuan/ton~46100 yuan/ton for premium copper. Overnight, London copper fell below $5800/ton, and Shanghai copper futures fell below the 46000 yuan/ton mark. Today, copper prices are hovering around the 45900 yuan/ton line. The sharp decline in the market continued to push up the spot premium, with early market holders raising prices at a premium of 150-190 yuan/ton. With the arrival of the Dragon Boat Festival holiday, the market's risk aversion sentiment was high, and the high premium caused the market to pause, making it difficult to make transactions. Holders were eager to cash in before the holiday and actively lowered their prices. The flat copper price was lowered all the way to a premium of 140 yuan/ton, while the good copper price was raised by 170-180 yuan/ton. During the second trading session, it was still difficult to complete transactions, and the price of flat copper was once again lowered to a premium of 130 yuan/ton with room for price reduction. The price of good copper remained stable with good resistance to decline; The wet copper quotation remains relatively stable, at a premium of 50-70 yuan/ton. Today is the last day of trading for the small holiday, and the market has experienced a sharp decline. There are few downstream traders and traders who are restocking at low prices, making it difficult for holders to sell and leaving room for price pressure. The overall trading atmosphere in the market is showing a cautious and stagnant trend, and the premium performance will still be determined by the market risk index.

[Reproduction requires retaining the source - Shanghai Nonferrous Network]