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Review on the spot Trading Day of scrap Copper on July 5
Jul 5,2019 15:40CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 5 / PRNewswire-Asianet /-

Today, the main 1909 contract of Shanghai Copper opened at 46480 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported a rise of 60 yuan per ton to 140 yuan per ton of water for the current month. Shanghai copper to maintain low shock, weak down to 46300 yuan / ton line. In the morning, the market continues the high water price of 80 to 140 yuan / ton, the market willingness to receive goods is obviously lower than the previous two days, the transaction stops, the holder takes the initiative to adjust the quotation, flat water copper is generally 60 to 70 yuan / ton, good copper is concentrated in rising water 120 to 130 yuan / ton; downstream to maintain rigid demand to buy, but the supply of wet copper is not much, to maintain stability in the discount 20 yuan / ton ~ flat water. Weekend market buying is not enough, the holder's willingness to cash has been significantly improved, although the inquiry is positive, but the transaction is still difficult, this week's rising water day by day rising mode may be difficult to continue.

Guangdong No. 1 bright copper quoted price of 42500 yuan / ton ~ 42800 yuan / ton, the same as yesterday; today's refined waste price difference of 1093 yuan / ton. Scrap copper market cautious atmosphere is still, in the current off-season demand weakening situation, copper manufacturers and traders are still on-demand procurement, and do not intend to stock a large number of goods, trading volume is less. In particular, with the continuous increase of electrolytic copper supply, the copper scrap market continues to form a crackdown. At present, the scrap copper market is still focused on the next batch of copper scrap batches.

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