2. Real-time market details

1. The data shows that with the copper inventory that can be delivered by the London Metal Exchange (LME) system falling to the lowest level in decades, the premium of copper for three-month period in spot copper rose to more than US$ 1,1 per ton on Monday, almost double the previous record set in 1987.

2. Since the beginning of October, the price difference between spot and futures has been widening, mainly because the copper inventory in global exchanges has been decreasing, so that the spot demand continues to exceed the supply. At present, the LME copper inventory with warehouse receipts has dropped sharply from more than 15, tons a month ago to only 14,15 tons last Friday, with a drop of over 9%.

3. Jintou. com, formerly known as China Gold Investment Network, was established on March 4, 28. It is a comprehensive financial information portal under Hangzhou Digital Tour Software Technology Co., Ltd. Jintou. com is committed to building a value service platform for financial information services, analysis and research, investment and wealth management tools and financial data products.

About the Exchange

1. The Shanghai Futures Exchange (SHFE) is a legal person established in accordance with relevant laws and regulations, which performs the functions stipulated in relevant laws and regulations and implements self-discipline management in accordance with its articles of association, and is subject to centralized and unified supervision and management by the China Securities Regulatory Commission. At present, there are 11 futures contracts listed and traded in Shanghai Futures Exchange, including gold, silver, copper, aluminum, zinc, lead, rebar, wire rod, fuel oil, natural rubber and asphalt.

2. With the continuous increase in the overall trading scale of copper futures on Shanghai Futures Exchange (SHFE), SHFE has gradually become an important link in the international copper pricing chain. As the price center of Asian metal copper, SHFE has become the three largest copper pricing centers in the world together with London Metal Exchange (LME) in Europe and new york (COMEX) in North America.

3. Although there is still a certain gap between SHFE and LME and COMEX in terms of the total size of positions, on the whole, the synchronous and substantial increase in the annual transaction volume and the maximum position of a single contract makes the trading scale of SHFE copper increase year by year, which strongly supports SHFE to become one of the three major pricing centers in the world. "Shanghai price" has gradually become an important reference indicator for European and American futures investors, traders, producers and consumers and spot traders. Codelco Company of Chile, the world's largest copper producer, has included Shanghai copper price in its global pricing index system together with London and new york copper prices. At the same time, China's leap to become the world's largest consumer of copper and aluminum has also made Shanghai price have a far-reaching impact on the international metal market.