Shanghai Metal Market: Shanghai Copper fluctuates and moves sideways; spot transactions are dull

Today, Shanghai Metals Market #1 electrolytic copper is quoted at 96,000–96,250 yuan/ton, with an average of 96,125 yuan/ton. Compared with the previous trading day, it is up 155 yuan/ton. For the Shanghai Copper 2604 contract, it is quoted at a discount of 60 yuan/ton versus flat/par (flat). This morning, copper prices continued to trade in a range. As of the midday close, the main Shanghai Copper contract is up 40 yuan/ton, up 0.04%. Today, spot market transactions were fairly steady. With downstream restocking ahead of the holiday basically completed, holders’ offers today were limited. The spot discounts have narrowed somewhat, but the continued inflow of imports still puts some pressure on prices. As of the close, the website reports the following: premium copper at a discount of 30–flat/par (flat)/yuan/ton, flat copper at a discount of 60–discount of 40 yuan/ton, hydrometallurgical copper at a discount of 120–discount of 90 yuan/ton, and non-registered copper at a discount of 180–discount of 150 yuan/ton. (SHMET)