Home / Metal News / Copper / Review on the spot Trading Day of scrap Copper on June 14
Review on the spot Trading Day of scrap Copper on June 14
Jun 14,2019 17:51CST
The content below was translated by Tencent automatically for reference.

SMM, June 13 / PRNewswire-Asianet /-

Today, Shanghai copper main 1908 contract early market opened at 46490 yuan / ton, today Shanghai electrolytic copper spot to the current month contract water 40 ~ 90 yuan / ton, Chilean copper strike to boost copper prices rebound, Shanghai copper rebounded to 46400 yuan / ton line. Every other month, the basis fluctuates in the range of 50 to 60 yuan / ton, and the holder has no intention of lowering the rising water, the quotation is stable at yesterday's level of 50 to 90 yuan / ton, the transaction still shows the characteristics of chainsaw, the flat copper can be pressed to 40 yuan / ton to get the goods, good copper can be reduced to 70 to 80 yuan / ton range; downstream there is no desire to replenish a large number of goods over the weekend, still maintain rigid demand, wet copper basically maintain discount 20 yuan / ton ~ flat water quotation. The market is still dominated by trading between traders, mainly every other month when the price spread is expanded, traders want to receive goods at a low price, but the source of low-price goods is also difficult to find. After the completion of the delivery of the 1906 contract next Monday, the spot rise will not be sustained, as imported copper will continue to enter the market, supply will remain loose, downstream consumption will be difficult to boost, the mainstream transaction is mainly long-term single delivery. The market may remain stable at its current level before delivery.

Guangdong No. 1 bright copper quoted price of 42500 yuan / ton ~ 42800 yuan / ton, unchanged from yesterday; today's refined waste price difference of 1118 yuan / ton, due to the import effect in the second quarter, the supply of imported scrap copper remained stable. Starting from July 1, 2019, waste enterprises need to obtain import approval to import "six types" of scrap copper, which is expected to be reduced by about 150000 metal tons, and the reduction at the scrap end will promote the consumption of refined copper. The state vigorously promotes the issuance of special bonds in order to promote the recovery of terminal consumption.

Daily review

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn