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Review on the spot Trading Day of scrap Copper on July 1
Jul 1,2019 16:51CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 1 / PRNewswire-Asianet /-

Today, the main 1908 contract of Shanghai Copper opened at 47330 yuan / ton in the morning. The result of the Sino-US meeting was positive. The bronze rose, and the Shanghai copper opened as high as 47200 yuan per ton. Today, Shanghai electrolytic copper spot to the current month's contract water 30 yuan / ton to 100 yuan / ton water. In July, the enterprise capital is loose, the transaction enters the new transaction cycle, the early market holder's willingness to push the price is obvious, but the transaction reaction is not positive enough, the transaction is blocked under the flat water copper price, the good copper goods source accounts for less, difficult to have the pressure price space, downstream maintains the rigid demand to buy the market. The disk surface is high, the market can circulate the source of goods has not seen a large number of outflows, today's mainstream transactions are mostly concentrated in traders, holders across the first day of the month strong willingness to push up the price, the same strong characteristics are more obvious.

Guangdong No. 1 bright copper quoted price of 43100 yuan / ton ~ 43400 yuan / ton, up 200 yuan / ton from Friday; today's refined waste price difference of 1314 yuan / ton. Trade war sentiment improved, affected by macro optimism, copper futures rose, fine scrap price spread further expanded, but terminal consumption diluted, refined copper and scrap copper orders are reduced, demand is weak. At the same time, the six types of scrap documents that have been issued are limited, which also limits the import of scrap copper in the short term, and the supply of scrap copper is also affected. Before the deadline, the release of the six categories of copper and aluminum scrap import list is still only Zhejiang, Anhui enterprises, the market is closely looking forward to the next batch of lists announced.

 

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