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Review on the spot Trading Day of scrap Copper on June 5
Jun 5,2019 16:19CST
The content below was translated by Tencent automatically for reference.

SMM, June 5 / PRNewswire-Asianet /-

Today, Shanghai copper main 1907 contract early market opened at 46520 yuan / ton, overnight US dollar fell to 97 mark, good Shanghai copper rapid rebound, today copper prices stood at 46500 yuan / ton first line finishing. Today, the spot copper electrolysis in Shanghai reported 110 yuan to 170 yuan per ton of water rising from 110 to 170 yuan per ton of water for the current month. Early market quotation rising water 110 to 140 yuan / ton, the transaction is OK, and then gradually up the quotation, the transaction strength can be; wet copper continues to raise the quotation with the market, the quoted price of 30 to 60 yuan / ton is still not finished. Spot market recently driven by risk aversion sentiment all the way higher, although the market inquiry is active, but traders tend to be cautious, holders stop, high prices do not rush to ship cash, downstream is on demand procurement, the market is waiting in the risk aversion mood.

Guangdong No. 1 bright copper quoted price of 42800 yuan / ton ~ 43100 yuan / ton, up 200 yuan / ton compared with yesterday; Today, the price difference of refined waste is 959 yuan per ton. Although the price difference of refined waste has rebounded slightly, it is still at a low level as a whole, and copper has no advantage in consumption. Taking into account the weak price of copper and the tightening of import supply, Copper scrap can still form a good support for electrolytic copper consumption in the short term.

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