Report Summary 1) Report Industry Investment Rating - Not provided in the given content 2) Core View of the Report - The domestic copper spot market is firm, which supports the copper price [1] 3) Summary by Relevant Catalogs [Fundamental Tracking] - Futures Prices: The closing price of the Shanghai Copper main contract was 78,090 with a daily decline of 0.40%, and the night - session closing price was 78,070 with a decline of 0.03%. The LME Copper 3M electronic disk closed at 9,658 with a daily increase of 0.15% [1] - Trading Volume and Open Interest: The trading volume of the Shanghai Copper main contract was 81,666, an increase of 2,530 from the previous day, and the open interest was 169,930, a decrease of 2,274. The trading volume of the LME Copper 3M electronic disk was 14,553, a decrease of 6,083, and the open interest was 279,000, a decrease of 1,048 [1] - Futures Inventory: The Shanghai Copper inventory was 50,133, an increase of 15,754, and the LME Copper inventory was 110,475, an increase of 850. The LME Copper注销仓单 ratio was 11.43%, a decrease of 3.05% [1] - Price Spreads: The LME copper ascension and premium increased by 13.80 to - 48.27. The bonded area warehouse receipt premium increased by 3 to 50, and the bonded area bill of lading premium increased by 3 to 66. The price of Shanghai 1 bright copper decreased by 300 to 72,800 [1] [Macro and Industry News] - Macro News: In the US, the core CPI in June increased by 2.9% year - on - year and 0.2% month - on - month, lower than expected for five consecutive months. Trump said that the US reached an agreement with Indonesia to impose a 19% tariff, lower than the threatened level last week. The EU said there were large gaps in positions between the US and the EU in some areas [1] - Industry News: Copper traders are shipping copper to Hawaii to take advantage of huge tariff trade. First Quantum Minerals' investment in Prospect Resources is crucial for extending the life of the Sentinel mine in Zambia. China's imports of copper ore and concentrates in June were 2.35 million tons, and the cumulative imports from January to June were 14.754 million tons, a year - on - year increase of 6.4%. The imports of unwrought copper and copper products in June were 464,000 tons, and the cumulative imports from January to June were 2.633 million tons, a year - on - year decrease of 4.6%. In the first half of this year, Azerbaijan's copper concentrate production soared nearly 12 times to about 1,200 tons [1][3] [Trend Intensity] - The copper trend intensity is 0, indicating a neutral state [3]
铜:国内现货坚挺,支撑价格
Guo Tai Jun An Qi Huo·2025-07-16 02:06