October 18 scrap copper spot trading day review: scrap copper import approval decreased significantly in the fourth quarter, scrap copper tightening continued

SMM, 18 October:

Today, the Shanghai copper main force 1912 contract opened at 46670 yuan / ton in the morning market, and the Shanghai electrolytic copper spot contract rose 70-100 yuan / ton for the current month. Shanghai copper along the 46600 yuan / ton line finishing, the market price trend unchanged. The price of Pingshui copper is 70 ~ 80 yuan / ton, good copper is stable in 90 ~ 100 yuan / ton, wet copper is generally quoted 40 ~ 50 yuan / ton, the lower reaches favor the low price source of wet copper, and some of the goods can be received at low price to 30 yuan / ton. The source of low-price goods is still favored, but the quotation of the holder is stable, and there is no atmosphere of price reduction and cash conversion, the downstream maintains stable and rigid demand, trade lacks profit space and few speculators speculate, the supply of goods is still abundant, and it is difficult to push up to 100 yuan. It is also difficult to break through the fluctuation of the interval, and the supply and demand sides are in a stalemate again.

The price of bright copper in Guangdong is 43100 yuan / ton ~ 43400 yuan / ton, which is the same as yesterday, and the price difference between fine waste and waste is 729 yuan / ton. Yesterday, the 13th batch of scrap copper import approval documents were announced, involving a total of 57400 tons of scrap copper. The average approval volume of enterprises is only about 17% of that in the third quarter. The import of scrap copper decreased in the fourth quarter, and it is expected that the domestic scrap copper market will gradually tighten, and the impact on enterprise production will gradually appear.