Copper Prices Rebound, Copper Scrap Traders Sell on High Prices [SMM Secondary Copper Daily Review]

SMM July 9

      At 11:30 today, the futures closing price was 102,340 yuan/mt, down 700 yuan/mt from the previous trading day. The average spot premium was 150 yuan/mt, up 15 yuan/mt from the previous trading day. Today, the copper scrap price fell 500 yuan/mt from the previous trading day. The copper scrap sales sentiment index rose to 2.33, and the purchase sentiment index fell to 2.35. The price difference between copper cathode and copper scrap was 1,652 yuan/mt, down 126 yuan/mt from the previous trading day. The price difference between copper cathode rod and secondary copper rod was 690 yuan/mt. According to the SMM survey, copper prices lifted in late trading. Copper scrap traders actively sold or fixed prices, but secondary copper rod enterprises stopped quoting prices to traders near the close, indicating that their purchases were sufficient. The price factor is only relevant to copper scrap market transactions, and currently, secondary copper rod enterprises are reluctant to purchase excessively.