Shanghai Copper Spot Market Report on September 11th

Update：3/16/2025 2:44:10 PM

SMM News on September 11th: Today, Shanghai electrolytic copper spot offers a discount of 10 yuan/ton to 50 yuan/ton for the current month's contract. The transaction price for flat copper is 47850 yuan/ton to 47920 yuan/ton, and the transaction price for premium copper is 47870 yuan/ton to 47950 yuan/ton. Shanghai copper futures are running around the 5-day moving average, and the import profit window has been open for several days, with profits remaining at around 300 yuan/ton. In the morning market, holders voluntarily lowered their quotes by 20-60 yuan/ton. The continuous influx of imported copper into the market has led to a continuous decrease in spot premiums. Today, good copper has experienced a significant decline and has shown proactive leadership. During the second trading session, a premium of 20 yuan/ton was seen, while flat copper stopped at a discount of 10 yuan/ton. Wet copper has expanded to a maximum discount of around 70 yuan/ton in order to make transactions. After 11 o'clock, copper futures surged to the level of 48000 yuan/ton, but due to approaching the end of the trading day and the rapid increase, the spot premium remained unchanged for the time being. The market is sideways, with no significant improvement in downstream transactions. Trade and speculative buying are still waiting for lower prices and greater discounts to enter the market. The import ratio remains strong, supply is loose, and holders of goods maintain a continuous high willingness to sell for cash, making it difficult to maintain the premium pattern.

[Reproduction requires retaining the source - Shanghai Nonferrous Network]