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Review on the spot Trading Day of scrap Copper on June 14
Jun 17,2019 17:46CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 17 / PRNewswire-Asianet /-

Today, the spot price of electrolytic copper in Shanghai is quoted for 60 ~ 150 yuan / ton of water, 46080 yuan / ton to 46160 yuan / ton and 46140 yuan / ton to 46220 yuan / ton for copper in flat water and copper in plain water, respectively. today, the spot price of electrolytic copper in Shanghai is quoted at 60 yuan / ton, 46160 yuan / ton and 46140 yuan / ton ~ 46220 yuan / ton respectively. Today is the last trading day of the 1906 contract, the monthly price difference fluctuates in 60-70 yuan / ton, the market has mostly quoted the 1907 contract price, the holder obviously has the strong desire to push the price, the morning market tries to quote in the rising water 30 ~ 80 yuan / ton, due to the spread of the monthly price difference than last week, resulting in a significant increase in spot water than last week, most of the market is in doubt, the holder in the supply of goods is abundant, difficult to digest the situation, Take the lead in reducing prices from good copper, good copper to 60 to 70 yuan per ton of water, flat copper to 10 to 20 yuan per ton of water, wet copper to further expand the discount state to about 40 yuan per ton of water. SMM according to the price methodology, the last trading day is still quoted according to the current month's contract, according to the price difference, good copper liter water 120 to 150 yuan / ton, flat water copper in the liter water 60 ~ 90 yuan / ton. By contrast, the market generally believes that the rising water is difficult to maintain stability, in the supply continues to be loose, consumer burnout, after the change of the month, the rising water is down is the trend.

Guangdong No. 1 bright copper quotation is 42300 yuan / ton ~ 42600 yuan / ton, 200 yuan less than yesterday; today's refined waste price difference is 990 yuan / ton. As a result of the weak copper price, the fine scrap price gap fell back to less than 1000 yuan again, scrap copper consumption continued to decline. In the weak price of copper in the market, scrap price gap is difficult to expand, scrap copper will continue to be good for refined copper consumption, it is expected that the domestic market can continue to the warehouse in June.

 

(SMM Wei Xue)

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