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Review on the spot Trading Day of scrap Copper on July 4
Jul 4,2019 17:00CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 4 / PRNewswire-Asianet /-

Today, the main 1908 contract of Shanghai Copper opened at 47500 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported a rise of 70 yuan per ton to 150 yuan per ton of water for the current month. Shanghai copper low return hindered 46500 yuan / ton line, the holder continued yesterday's high price situation, the morning market quotation rose 90 yuan / ton, the disk floated red, the rising water was further raised than yesterday, obviously suppressed the buy Xing, the level water copper initiative dropped to the rising water 80 yuan / ton or so, but the good copper proportion is still less, the high price intention is still strong, continues to push the price in the rising water 140yuan / ton or so, difficult to have the pressure price space, the wet copper goods less price is quite strong, but the good copper proportion is still less, the high price intention is still strong, continues to push up the price in the rising water 140yuan / ton, difficult to have the pressure price space, the wet copper goods price is few, Lift it up to 10 yuan per ton of water. Following the market yesterday, copper prices rose slightly, rising water is high and difficult to fall, downstream and traders return to the wait-and-see situation under their abundant inventory, and today they are stuck in a stalemate pattern, hardly showing the activity of yesterday. With the gradual entry of newly imported copper into the warehouse, the follow-up supply may be gradually relaxed, spot water lift will have difficulties and pressure.

Guangdong No. 1 bright copper quoted price of 42500 yuan / ton ~ 42800 yuan / ton, up 42500 yuan / ton compared with yesterday; today's refined waste price difference of 1188 yuan / ton. At present, due to the lack of import resources to supplement, the current domestic supply of recycled copper is very tight, holders are willing to pay a strong price, now there are more domestic premium transactions. At present, the market focuses on the approval of the next batch of copper scrap, and speculates that the import of scrap copper in the second half of the year will be published in batches by region.

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