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Review on the spot Trading Day of scrap Copper on June 21
Jun 21,2019 15:00CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 21 / PRNewswire-Asianet /-

Today, Shanghai copper main 1908 contract early market opened at 46850 yuan / ton, Shanghai copper continued to concussion pattern, around 46800 yuan / ton first-line shock. Today, Shanghai electrolytic copper spot to the current month's contract water 20 ~ 80 yuan / ton. Spot quotation is still deadlocked, continuing yesterday's price rising water 30 80 yuan / ton range, willing buyers can press the price level water copper water 20 yuan / ton, good copper still maintain water 70 80 yuan / ton, wet copper once again slightly loosened, quotation discount 60 ~ discount 30 yuan / ton, although the market inquiry atmosphere is positive, but the transaction is still not satisfactory, today's performance hesitation, because the holder still has no intention to lower the price, the price is 60 yuan to 30 yuan / ton, although the market inquiry atmosphere is positive, the transaction is still unsatisfactory, today's performance hesitates, because the holder still has no intention of lowering the price. Therefore, both supply and demand maintain a stalemate. Downstream to maintain a rigid demand procurement rhythm, the disk for several days to maintain a concussion pattern, spot rise has not changed much, the spot market performance is also relatively calm stalemate. Next week, when the delivery of the long order is over, it will face mid-year settlement again, and the market supply will remain abundant. However, due to the risk event of the spot market at the end of May, it may lead to a shortage of invoices in June and a firm quotation, and the price difference between next month's invoice and next month's invoice may widen.

Guangdong No. 1 bright copper quoted price of 42800 yuan / ton ~ 43100 yuan / ton, the same as yesterday; Today, the price difference of refined scrap is 1209 yuan / ton, and now only the profitable waste enterprises in Zhejiang and Anhui have received the approval of imported scrap copper, involving a total amount of 240429 tons, which is basically the same as the import volume of six types of scrap copper in the third quarter of last year. Other regional approvals are expected to be issued in subsequent batches one after another, and the impact of scrap copper import volume in the third quarter is expected to be small, but the subsequent approval situation is full of more uncertainty. Now the domestic scrap copper production enterprises to cover the goods to cherish the sale sentiment continues to be strong.

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