Shanghai Metal Market: Shanghai copper focus shifts upward, spot transactions are still decent

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Today, Shanghai Metal Market #1 electrolytic copper quotation is 97,520-97,780 yuan/ton, with an average of 97,650 yuan/ton, up 1,020 yuan/ton from the previous trading day, and the SHFE copper 2604 contract is quoted at a premium of 40-20 yuan/ton. This morning, SHFE copper opened high and moved higher, and by midday, the main contract closed up 990 yuan/ton, a 1.02% increase. Today, spot market transactions were moderate, and with the strengthening of copper prices, downstream procurement activity has increased. Tight circulation in Jiangsu region supported the spot premium, and during the session, Shanghai spot discounts narrowed. By the close, the market-wide premium was quoted at a premium of 10-20 yuan/ton, cash copper at a premium of 40-20 yuan/ton, wet-process copper at a premium of 100-70 yuan/ton, and non-registered copper at a premium of 140-120 yuan/ton. (SHMET)

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