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Review on the spot Trading Day of scrap Copper on June 13
Jun 13,2019 17:34CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 13 / PRNewswire-Asianet /-

Today, the main 1908 contract of Shanghai copper opened at 46420 yuan / ton in the early morning, and the copper adjustment fell back to 46200 yuan / ton in the later period. Shanghai electrolytic copper spot today reported 40 to 90 yuan / ton of rising water for the current month's contract. The sentiment of market throwing has been slightly alleviated. In the morning, the holder continued to quote 50 to 90 yuan / ton yesterday. There is a positive inquiry from traders and a willingness to receive goods at a low price. Good copper 80 yuan / ton, flat copper can be pressed to 40 yuan / ton, wet copper 20 yuan / ton ~ flat water, the transaction is OK, in the second trading period, the holder has no intention to continue to reduce prices, the quotation is firm in the flat water copper 50 yuan / ton line, the price is strong in the flat water 50 yuan / ton line, the wet process copper quotation 20 yuan / ton ~ flat water, the transaction is OK, the second trading period, the holder has no intention to continue to reduce the price, the quotation is firm in the flat water copper water 50 yuan / ton line, As a result, the stalemate pattern is repeated, and the atmosphere of market transactions has also become lighter. Today, the market changed yesterday's rising water continued to decline smooth performance, traders both difficult to find low-priced supply, but also difficult to sell strong supply, the market performance of supply and demand saw characteristics. The second trading session spread to about 50 yuan / ton, which is also one of the reasons why holders are unwilling to ship at a low price. Close to delivery, the disk has once again experienced a downward crisis. In terms of market performance, low prices and rising water may still be attractive to the market.

Guangdong 1 # bright copper quotation 42500 yuan / ton ~ 42800 yuan / ton, down 300 yuan / ton from yesterday; today the price difference of refined waste is 968 yuan / ton, with July 1 gradually approaching, the "six types" of copper will be changed from unrestricted import solid waste to restricted import solid waste, only the processing waste enterprises with import approval and the enterprises in the recycling park can be imported. As the current import approval of scrap copper is uncertain, the import of scrap copper may also be affected by policy changes. The supply of scrap copper is expected to become more and more tight, and there will be more electrolytic copper instead of scrap copper consumption in the later stage.

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