March 2nd Shanghai copper spot market report: buying on dips improves, discount narrows significantly

Update：3/16/2025 3:01:52 PM

SMM March 2nd News: Today, Shanghai electrolytic copper spot prices quoted a discount of 120 yuan/ton to 80 yuan/ton for the current month's contract. The transaction price of flat copper is 44640 yuan/ton to 44900 yuan/ton, and the transaction price of premium copper is 44660 yuan/ton to 44920 yuan/ton. Shanghai copper futures opened low and rose all the way, with the monthly contract returning to around 45000 yuan/ton. On the first trading day of March, the financial pressure on enterprises eased, and the morning market was still below 44750 yuan/ton, boosting market consumption. As a result, traders have significantly raised their prices compared to last week. The morning market inquiry activity is high, with a discount of 120~80 yuan/ton on the quoted price. The preference for flat water copper is slightly better than that of good copper, and low-priced flat water copper is quickly withdrawn. Later, flat water copper stabilizes around the discount of 110 yuan/ton, and good copper quotes remain stable at the discount of 90 yuan/ton. Good copper buying is not as good as flat water copper; Wet copper has significantly narrowed compared to last Friday, with quotes around a discount of 180 yuan/ton. Copper futures are still at a low level, and the market is full of expectations for the resumption of consumption in March. Holders of goods have shown strong prices, and downstream bargain hunting buying has increased. Traders have finally broken free from the stalemate since last week, with a significant increase in activity and a significant improvement in overall trading.

[Reproduction requires retaining the source - Shanghai Nonferrous Network]