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Review on the spot Trading Day of scrap Copper on June 26
Jun 26,2019 13:47CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 26 / PRNewswire-Asianet /-

Today, the main 1908 contract of Shanghai copper opened at 47360 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported flat water to 80 yuan / ton of water for the current month, and the rebound of copper in Shanghai completely stood at 47000 yuan / ton. The inquiry of the early trading merchant is active, after the long single delivery basically ends, the invoice holder's quotation proportion increases next month, the early market invoice quotation rises 10 to 60 yuan / ton, the good copper quotation maintains in the rising water 50 to 60 yuan / ton range, the flat water copper quotation may depress the price to the flat water nearby, the low price source transaction is OK, if the discount transaction performance is positive, the wet copper quotation is reduced to the discount 60 yuan / ton or so, the flat water copper quotation may press the price to the flat water nearby, the low price source transaction is OK, if the discount transaction performance is positive, the wet method copper quotation is reduced to the discount 60 yuan / ton or so. There is still some demand for invoices before the end of the month, and due to the recent copper spot market risks, the price of the invoice for that month is stronger, and the difference between the invoice price and the invoice price for the next month is 20 to 30 yuan per ton. Today, in addition to the invoice performance of low-priced goods next month, the overall performance of the market is still deadlocked. On the one hand, after some large enterprises have completed long orders, enterprises gradually enter the mid-year and month-end settlement, and the trading performance is cautious. Moreover, because of the sharp rebound in copper prices, the downstream is afraid of high, consumption is weak, and very few enter the market. Traders are also due to the end of the month to trade activity has also been reduced. After a week trading activity may still be difficult to show active, spot is also inevitably easy to show a small discount state.

Guangdong No. 1 bright copper quoted price of 43000 yuan / ton ~ 43300 yuan / ton, up 200 yuan / ton compared with yesterday; today, the refined waste price difference of 1376 yuan / ton, refined waste price difference continued to rise in a narrow range, but due to the poor consumption of copper scrap rod, the production of waste enterprises has been reduced, and the purchase of waste copper has also been reduced. At the same time, due to the continuous shortage of recycled copper, the asking price is strong, and the transaction of scrap copper market continues to be light.

 

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