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SMM February 21
The futures closed at 77,250 yuan/mt at 11:30 today, down 80 yuan/mt from the previous trading day. The average spot premiums/discounts stood at -110 yuan/mt, down 20 yuan/mt from the previous trading day. The price of secondary copper raw material rose by 100 yuan/mt MoM today. The price of Guangdong bare bright copper was 70,900-71,100 yuan/mt, up 100 yuan/mt from the previous trading day. The price difference between primary metal and scrap was 1,608 yuan/mt, down 206 yuan/mt MoM. The price spread of primary and secondary copper rods was 955 yuan/mt. According to the SMM survey, Ningbo import traders reported that due to the preparation for constructing a container berth at the Zhongda Xie Terminal in Beilun Port, the project, which will last for one year, will affect inspection sites and container yards, causing port congestion at the Zhongda Xie Terminal and impacting customs clearance efficiency during the construction period.
