Comment on the spot Trading Day of scrap Copper on May 16

SMM May 16: Shanghai Copper main 1907 contract opened in the early morning market at 47800 yuan / ton. Today, the non-ferrous plate performance rose floating red, Shanghai copper rose slightly to 47700 yuan / ton line. Spot rising water this daily water 30-120 yuan / ton. At the beginning of the day, the holder intended to push up the price, and the quotation was 40 to 120 yuan per ton, but the atmosphere of receiving goods in the market was not positive enough. Some of the holders no longer insisted on taking the initiative to relax the price, and the quotation for good copper was reduced to 100 yuan to 110 yuan per ton. Traders can accept goods as low as 90 yuan per ton of water, and copper flat water is priced at 30 yuan per ton of water. Only a few traders have lowered their quotations for brands such as ISA. Today, the downstream performance is not as good as the previous two days. Because of the less supply of wet copper, it is stable in the discount of 30 yuan / ton to 10 yuan / ton. Copper futures higher, the market performance cautious stop, but most of the holders still show obvious willingness to stand up, the market highlights the stalemate pattern. Whether the seller can break the right of pricing, we need to pay attention to the subsequent changes in copper supply guidelines, pay attention to the entry of imported copper into the market.

Guangdong No. 1 bright copper quotation is 43900 yuan / ton ~ 44200 yuan / ton. Today, bright copper rose 100 yuan per ton, and the price difference of refined copper rose 82 yuan per ton to 703 yuan per ton compared with yesterday. Copper scrap rod enterprises have increased their purchase of scrap copper, boosting the enthusiasm of copper scrap market consumption. Today, scrap copper consumption has improved compared with a few days ago. The overall supply and demand performance of the scrap copper market is still good.