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Review on the spot Trading Day of scrap Copper on June 27
Jun 27,2019 20:53CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, June 27 / PRNewswire-Asianet /-

Today, the main 1908 contract of Shanghai Copper opened at 47110 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported flat water to 50 yuan / ton of water for the current month. Shanghai copper gave up some of yesterday's rise to 47000 yuan / ton line. Most enterprises enter the half-year settlement state, the market is basically the invoice quotation next month, the holder maintains yesterday's quotation in Pingshui ~ Shengshui 50 yuan / ton range, the transaction is light, the good copper holder takes the initiative to lower the quotation, the good copper Shengshui 30 40 yuan / ton or so receives the goods, the flat water overall does not see the substantial lower expansion transaction, the small part of the supply has the depressing price space, the morning overall transaction does not improve; Wet copper still maintains yesterday's quotation discount 60 ~ discount 30 yuan / ton. As the holder still has no intention to lower the price, the downstream willingness to pick up the goods is lack, the market performance stops, so the supply and demand sides maintain the stalemate situation.

Guangdong 1 # bright copper quotation 42900 yuan / ton ~ 43200 yuan / ton, down 42900 yuan / ton compared with yesterday; today refined waste price difference of 1302 yuan / ton, consumption light, waste enterprises generally reflect the reduction in orders, so they are more cautious in procurement, on-demand procurement is the main. The market is concerned about the progress of trade negotiations at the G20 summit and the issuance of six types of import approvals across the country by July. Now the market fine copper, scrap copper transactions are more cautious, wait-and-see mood is stronger.

 

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