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Review on the spot Trading Day of scrap Copper on June 10
Jun 10,2019 16:53CST
The content below was translated by Tencent automatically for reference.

SMM, June 10 / PRNewswire-Asianet /-

Today, the main 1907 contract of Shanghai Copper opened at 46130 yuan / ton in the early morning market. Today, Shanghai electrolytic copper spot to the current month's contract water 90 ~ 170 yuan / ton. Shanghai copper lows rebounded slightly to 46200 yuan / ton line. On the first day after the festival, it was heard that imported copper had arrived in the warehouse, and in the morning, the holder continued the pace of quotation before the festival, and the quotation increased by 110 yuan to 170 yuan per ton, but there were many quotations in the market, but there was not enough interest in buying, and the holders' willingness to cash in gradually became stronger, and the price space was magnified. The price of good copper from 170 yuan / ton to 140 yuan / ton is reduced to 140 yuan / ton, and the quotation from 110 yuan / ton is reduced to less than 100 yuan / ton before there is centralized trading. Wait and see downstream, wet copper quoted water 20 to 40 yuan / ton and there is still room for pressure. The main reason is that inventory increases, market consumption is weak, market risk aversion vigilance is still high, the market is difficult to quickly digest imported copper, rising water may still have room for downward adjustment.

Guangdong No. 1 bright copper quoted price of 42600 yuan / ton ~ 42900 yuan / ton, up 200 yuan / ton compared with last Thursday; Today, the price difference of refined waste is 801 yuan per ton. Due to the stricter national environmental protection policy and other factors, the supply of domestic scrap copper is expected to continue to be tight, the supply is shrinking, and the mood of holding goods and cherishing sales is further heated, and most of the transaction prices are higher than the market quotations. Scrap copper has almost no price advantage, but it also gives some support to the refined copper market.

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