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SMM May 8
At 11:30 today, the futures closing price was 78,300 yuan/mt, up 130 yuan/mt from the previous trading day. The average spot premiums/discounts were 225 yuan/mt, down 35 yuan/mt from the previous trading day. Today, the price of secondary copper raw material rose by 100 yuan/mt MoM. The price of bare bright copper in Guangdong was 72,200-72,400 yuan/mt, up 100 yuan/mt from the previous trading day. The price difference between copper cathode and copper scrap was 1,610 yuan/mt, down 11 yuan/mt WoW. The price difference between copper cathode rod and secondary copper rod was 1,425 yuan/mt. According to the SMM survey, due to continuous losses in the sales of secondary copper rod, some copper rod enterprises plan to suspend the production of secondary copper rod lines and switch to producing copper anode {{in the context of copper}}.
