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Review on the spot Trading Day of scrap Copper on July 9
Jul 9,2019 18:14CST
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Source:SMM
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SMM July 9 News:

Today, Shanghai copper main 1909 contract morning market opened at 46260 yuan / ton, today Shanghai electrolytic copper spot to the current month contract water 40 yuan / ton to liter water 1909 yuan / ton, flat water copper transaction price 46160 yuan / ton ~ 46210 yuan / ton, rising water copper transaction price 46200 yuan / ton ~ 46250 yuan / ton. Shanghai copper continued to bear pressure fell to around 46100 yuan / ton, spot consumption is weak, holders bearish the future, the willingness to cash out is strong, the morning market quotation rose 60 to 100 yuan / ton, the transaction is few and difficult, the loose source of goods makes the rising water quickly fall back, flat water copper quotation rose 40 to 50 yuan / ton, good copper down to 80 to 90 yuan / ton, individual traders take the lead to increase the low price shipping efforts, the market has a certain drag impact, the price can be reduced to a lower level, the price of copper rose 40 yuan to 50 yuan per ton, good copper down to 80 yuan per ton, individual traders take the lead in increasing the strength of low-price shipment, there is a certain drag on the market, the price can be reduced to a lower level; Wet method accounted for a small proportion of goods, maintain yesterday's quotation discount 30 ~ 10 yuan / ton, downstream did not see a large number of bargains, traders are more active, but slightly hesitant to buy goods, traders have room and willingness to bargain. The future is now falling, and the copper market is weak.

The quotation of No. 1 bright copper in Guangdong is 42300 yuan / ton ~ 42600 yuan / ton, down 200 yuan / ton compared with yesterday, and the difference of refined waste price is 1521 yuan / ton. The slight rise in the price spread this month is not obvious to the market. At present, the supply of scrap copper is still tight, and scrap copper traders still show the sentiment of cherishing the sale. The price of scrap copper continues to be strong, the production enthusiasm of waste enterprises is not high, and the purchase is less.

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