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Review on the spot Trading Day of scrap Copper on June 18
Jun 18,2019 16:18CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 18 / PRNewswire-Asianet /-

Today, the main 1908 contract of Shanghai Copper opened at 46490 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported rising water of 40 yuan to 90 yuan per ton of water for the current month. Shanghai copper performance is stable, today is the first trading day after the month change, because yesterday the holder has mostly quoted the 1907 contract price, today the holder quotation is stable, the morning market quotation flat water copper namely in the rising water 30 40 yuan / ton, difficult to have the pressure price space, the good copper stalemate in the rising water 70 to 80 yuan / ton, the trader has the pressure price to receive the goods to the good copper is willing, but actually also is more difficult to get the wish, the wet copper holds steady in the discount 40 ~ discount 20 yuan / ton, the good copper is deadlocked in the rising water 70 80 yuan / ton, but actually also is more difficult to achieve the wish, the wet copper holds steady in the discount 40 ~ 20 yuan / ton. Holders still have a high price mentality, not in a hurry to reduce prices and throw goods, the disk is still unstable, transactions show stalemate, but traders have delivery of long orders within the week demand, looking for low-priced supplies in the market, if the rising water drops, the transaction may improve.

Guangdong No. 1 bright copper quoted price of 42400 yuan / ton ~ 42700 yuan / ton, up 42400 yuan / ton compared with yesterday; today's refined waste price difference of 1114 yuan / ton. Due to the influence of environmental protection policy and import ban, the supply of recycled copper in China continues to be tight, and the holders have a strong mentality of cherishing and selling. Many recycled copper utilization enterprises say that the situation is difficult, the high price of recycled copper has led to a significant increase in waste costs, while downstream users have limited acceptance of copper rod prices, profits have been squeezed, and the enthusiasm for receiving orders and purchasing has been weakened.

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