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Review on the spot Trading Day of scrap Copper on June 12
Jun 12,2019 15:10CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 12 / PRNewswire-Asianet /-

Today, the Shanghai Copper main 1908 contract opened in the early market at 46620 yuan / ton, Shanghai copper impact blocked, fell back to 46500 yuan / ton line. Today, Shanghai electrolytic copper spot contract for the current month reported 50 to 100 yuan per ton of water. The market supply is abundant, the holder shipment cash willingness is strong, the morning quotation rises the water 70 to 110 yuan / ton, almost does not have the transaction. The market is unresponsive, the inquiry atmosphere is also light, the holder is the first to relax the flat water copper quotation, from the rising water 60 yuan / ton to the rising water 50 yuan / ton and still has the pressure price space, the good copper is reduced to the rising water 90 yuan / ton or so the quotation; the wet process copper and yesterday maintains the stability to maintain the stability in the discount 20 yuan / ton ~ flat water. The supply is abundant, the consumption is weak, the speculation is cautious, the trade flow is greatly reduced, the price difference near delivery is still only in the range of 20-30 yuan / ton, the rising water decline is the trend, the market supply exceeds the demand characteristic is obvious.

Guangdong 1 # bright copper quotation 42800 yuan / ton ~ 43100 yuan / ton, compared with yesterday's flat; today's refined waste price difference of 934 yuan / ton, the market for the follow-up price wait-and-see situation, transaction caution, on-demand procurement. Copper futures prices fell, crowding out the recycled copper market, recycled copper holders in the shortage of supplies, still maintain a low price to cherish the sale strategy, the asking price is relatively strong.

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