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Review on the spot Trading Day of scrap Copper on June 11
Jun 11,2019 14:17CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 11 / PRNewswire-Asianet /-

Today, the main 1908 contract of Shanghai Copper opened at 46620 yuan / ton in the morning, while the price of copper in Shanghai rose sharply to more than 46700 yuan / ton, with the price of US $5900 per ton. Today, spot copper electrolysis in Shanghai reported 70 to 140 yuan per ton of water for the current month's contract. In the morning, the market was still full of goods, and the willingness to cash out was clear. The holder quoted a price of 90 yuan to 140 yuan per ton, but the willingness to receive goods in the market was low. When the supply was abundant, the holder had no choice but to lower the quotation. The good copper went straight down to 110 yuan to 120 yuan per ton of water before there was a slow downward trend. The price of flat water copper has been adjusted from 90 yuan to 70 yuan / ton, and the consumption in the lower reaches of the plate has risen sharply. The price of wet copper has been adjusted down, and the quotation has been reduced from 10 yuan to 20 yuan per ton of water. The price of copper in flat water has been reduced from 90 yuan to 70 yuan / ton, and the price of wet copper has been adjusted down from 10 yuan to 20 yuan per ton. Market trade speculation and downstream consumption are cautious wait-and-see state, the supply of goods is increased, there are few recipients, and there is room for pressure, shipping difficulties slow digestion speed so that spot quotations will continue to decline.

Guangdong 1 # bright copper quotation 42800 yuan / ton ~ 43100 yuan / ton, compared with yesterday continues to rise 200 yuan / ton; today refined waste price difference 1074 yuan / ton, scrap copper increase less than electrolytic copper, refined waste price difference slightly expanded. However, the price of scrap copper still has little advantage, scrap copper holders cover the sale of goods, the outflow of goods is reduced, refined copper accounts for scrap copper consumption. On the other hand, scrap copper provides a certain support for the consumption of refined copper and accelerates the seasonal removal of electrolytic copper in China.

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