Shanghai copper spot market report on September 26th: Clearing inventory to avoid risks shrouds the market, spot prices are approaching discount

Update：3/16/2025 2:59:48 PM

SMM News on September 26th: Today, Shanghai electrolytic copper spot trading reported a premium of 20 to 90 yuan/ton for the current month's contract, with a transaction price of 47180 yuan/ton to 47250 yuan/ton for flat copper and 47210 yuan/ton to 47280 yuan/ton for premium copper. Shanghai copper futures are being consolidated along the 47200 yuan/ton line. Holders of goods seized the last remaining trading opportunity and worked hard to cash out. Today, with the long orders coming to a close, the market share of monthly and current monthly tickets has become evenly matched. In the morning market, current monthly tickets are priced at a premium of 60-90 yuan/ton, while in the next market, monthly tickets are priced at a premium of 40-60 yuan/ton. However, demand has become scarce. Led by the rapid price reduction trend of the next monthly pass, the overall market quotation has shown a downward trend. When the average price of copper per month drops to around 30 yuan per ton and the average price of good copper per month drops to around 60 yuan per ton, the rate of price reduction briefly stops. In the second trading stage, with a strong desire to clear inventory and avoid risks, the price of flat copper has dropped to 10-20 yuan/ton per month next month, and there is still room for price reduction. Good copper is still unpopular as low as 50 yuan/ton per month, and the source of wet copper has decreased from around 20 yuan/ton per month to 20 yuan/ton per month at a discount. The price difference between the monthly pass and the next monthly pass is around 30 yuan/ton. After 11 o'clock, the next monthly pass for flat copper has shown a discount quotation, and even if good copper is quoted at a premium of 20 yuan/ton, the market remains cautious and cautious. Downstream replenishment is already sporadic, and traders have no intention of receiving goods for the holiday. The market is completely shrouded in the urgent selling sentiment of cash changers, and the downward trend of buying speed and lowering premiums may continue until the afternoon. There may be a comprehensive discount before the holiday.

[Reproduction requires retaining the source - Shanghai Nonferrous Network]