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Review on the spot Trading Day of scrap Copper on June 6
Jun 6,2019 17:28CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 6 / PRNewswire-Asianet /-

Today, the main 1907 contract of Shanghai copper opened at 45990 yuan / ton early, overnight copper fell below 5800 US dollars / ton, Shanghai copper heel fell below 46000 yuan / ton, today copper price hovered at 45900 yuan / ton line. Today, spot copper electrolysis in Shanghai reported 130 yuan to 190 yuan per ton of water for the current month's contract. The sharp fall in the market continued to push up the spot rising water, and the morning market holders raised their prices at 150 to 190 yuan / ton of rising water. Dragon Boat Festival short holiday is coming, the market risk aversion mood is high, the high rising water makes the market stop, it is difficult to close a deal, and the holder is eager to cash in before the festival. Take the initiative to lower the quotation, flat water copper quotation all the way down to 140 yuan / ton, good copper quotation 170 180 yuan / ton. In the second trading session, the transaction is still difficult, flat copper is once again down to 130 yuan / ton of water and there is room for pressure, the price of good copper has good resistance to decline, and the quotation of wet copper is relatively stable, maintained at the level of 50 yuan to 70 yuan per ton of water. Today is the last day of short holiday trading, the disk surface has plummeted, there are few downstream and traders in the market to replenish goods at a low price, the holders have difficulties in shipping, there is room for price reduction, and the overall trading atmosphere of the market has shown a cautious stop. The performance of the rising water will still be determined by the market risk index.

Guangdong 1 # bright copper quotation 42400 yuan / ton ~ 42700 yuan / ton, down 400 yuan / ton from yesterday; today refined waste price difference of 774 yuan / ton, scrap copper prices restart the decline, the market cautious mood heats up sharply. On the supply side, affected by the stricter national environmental protection policy and other factors, the domestic copper scrap supply is expected to continue to be tight; the lightness of the scrap copper market makes more consumption turn to electrolytic copper consumption.

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