Review on the spot Trading Day of scrap Copper on July 26

SMM, July 26 / PRNewswire-Asianet /-

Today, the main 1909 contract of Shanghai Copper opened in the morning market of 46980 yuan / ton. Today, the spot of electrolytic copper in Shanghai quoted a discount of 10 yuan per ton to 50 yuan per ton of water for the current month. Shanghai copper continues to revolve around 47000 yuan / ton first-line shock, the weekend is coming, and the long order is basically over, most of the holders have been quoted next month, the spot purchase is weak, the holder takes the initiative to reduce the price in order to close the deal, the flat copper leads down, the good copper follows the fall, the transaction only then has the improvement. For some downstream, it is still necessary to issue a ticket in the current month. Good copper is about 40 yuan per ton of water, and flat water copper is quoted at about 10 yuan per ton of water. Futures market is also difficult to get rid of the interval concussion pattern, traders still maintain the willingness to find goods at low prices, especially flat copper, the willingness to buy a larger discount range, but the market can be reduced to a larger discount brand sources and holders are limited, supply and demand sides are still divided, temporarily maintain a stalemate over the weekend. However, near the end of next week, capital and high temperature weather on the production of downstream enterprises have a certain pressure, trade flows are difficult to significantly increase, spot discount may gradually expand.

Guangdong No. 1 bright copper quoted price of 42900 yuan / ton ~ 43200 yuan / ton, the same as yesterday, refined waste price difference of 1654 yuan / ton. According to data released by the General Administration of Customs this week, China imported a total of 170000 physical tons of scrap copper in June. SMM reckons that imports of scrap copper will increase by more than 100000 metal tons in the first half of the year compared with the same period last year. There is no shortage of scrap copper supply expected by the market. Just did not get the approval of the waste enterprises still need to rely on domestic scrap copper to supplement, further supporting the willingness of the holder to push the price.