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Review on the spot Trading Day of scrap Copper on June 4
Jun 4,2019 16:03CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 4 / PRNewswire-Asianet /-

Today, the main 1907 contract of Shanghai Copper opened at 46330 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported 80 to 150 yuan / ton of rising water for the current month's contract. Shanghai copper recovered slightly from yesterday, copper prices along 46200 yuan / ton shock finishing. Today, the spot quotation is still strong, the market immediately reported 80 to 140 yuan / ton, flat water copper first ushered in a wave of positive trading, flat water copper quotation on the rising water 100 to 110 yuan / ton; Good copper tried to follow the rise, but good copper trading atmosphere is slightly inferior to flat copper, stop at 150 yuan / ton water is difficult to make a difference; wet copper comprehensive water price, with the market adjusted to 20 yuan / ton water discount 50 yuan / ton. The market normal circulation goods source is limited, causes the holder quotation to be firm, today the trader transaction continues to dominate the market, the risk intention causes the spot to rise condescending.

Guangdong 1 # bright copper quotation 42600 yuan / ton ~ 42900 yuan / ton, maintain yesterday's quotation; today refined waste price difference 851yuan / ton. Overnight U. S. manufacturing data underperformed, the dollar fell, leading to a small rise in copper prices, but prices as a whole are still low. Now the global economy is poor, macro disturbances continue, into June, copper market demand gradually cooled, downstream in the procurement of raw materials more cautious; However, due to the tightening of the import policy of recycled copper, the market generally expects that the supply of recycled copper will remain tight in the coming months, the asking price of the holder will remain strong, and the scrap copper market will continue to trade lightly.

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