Mar 24, 2024 15:57
During the week, spot copper was quoted against SHFE 2404 copper contract, and spot discounts further expanded. Although copper prices fell slightly after a sharp rise, downstream purchases for spot cargoes was still poor. Some downstream companies significantly lowered the prices of non-registered sources, but sellers refrained from selling at ultra-low prices. The overall market trades were poor.
Mar 08, 2024 22:54
. LME copper is expected to trade between $8,450-8,700/mt in the week of March 11 and SHFE copper prices will fluctuate between 68,500-70,000 yuan/mt. Under the contango structure, it is expected that the sellers will be less willing to ship at low prices before the delivery of the SHFE front-month contract, and the spot discounts may be reduced. The spot discounts are expected to be 80-20 yuan/mt.