1, copper futures is a futures product with copper as the subject matter, and it is a futures product listed on the Shanghai Stock Exchange with the trading code of Cu. Metallic copper, element symbol Cu, specific gravity 8.92, melting point1083 C. Pure copper is light rose or reddish. After the copper oxide film is formed on the surface, the appearance is copper. Copper has many valuable physical and chemical properties, such as high thermal and electrical conductivity, mechanical stability, high tensile strength, easy welding, corrosion resistance, plasticity and ductility. Pure copper can be drawn into thin copper wire and made into thin copper foil, which can be alloyed with metals such as zinc, tin, lead, manganese, cobalt, nickel, aluminum and iron. Copper is one of the earliest ancient metals discovered by human beings, and it was used as early as 3000 years ago.
2. Copper is a non-ferrous metal closely related to human beings, which is widely used in electric power, light industry, machinery manufacturing, construction industry, national defense industry and other fields. It is second only to aluminum in the consumption of non-ferrous metal materials in China. Copper is widely used in electrical and electronic industries, with the largest consumption, accounting for more than half of the total consumption. Product number and quality standard for delivery of copper futures: The standard GB/T-467- 1997 shall be implemented for the subject matter of copper futures contracts from September, 1998. High-purity cathode copper and standard cathode copper can be delivered without quality premium, only brand premium.
3. Since the prototype of 1877 London Metal Exchange (LME) was formed, copper has been one of the earliest varieties traded in LME. At present, there are mainly London Metal Exchange (LME) and the New York Mercantile Exchange (NYMEX-COMEX) engaged in copper futures trading abroad. LME's copper quotation is the most authoritative quotation in the industry, and its price tends to objectively reflect the transaction, while COMEX's price is more speculative. Domestic copper futures trading has a history of ten years since 9 1 was launched. Copper is the only variety in China that has experienced wind and rain but still maintains a considerable scale. The spot prices of SHFE and LME are often the same. There is no significant risk in domestic copper futures trading, and the performance rate is 100%. Copper futures price has become the authoritative quotation of domestic industry, and it has attracted more and more attention from enterprises and investors. Therefore, copper futures trading contract has become a reliable investment and hedging tool.