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Review on the spot Trading Day of scrap Copper on July 10
Jul 10,2019 18:44CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 10 news: Shanghai Copper main 1909 contract early market opened at 45910 yuan / ton. Overnight, the United States Index rose to 97.6 position, Lun Copper led the decline, Shanghai copper followed the jump low open, copper prices broke 46000 yuan / ton lower, today copper around 45800 yuan / ton to 45900 yuan / ton range shock. The price of copper fell, the price of copper broke 46000 yuan / ton, and today copper fluctuated around the range of 45800 yuan / ton to 45900 yuan / ton. After the decline in the market surface attracted downstream enterprises to replenish goods at low prices, the market early inquiry is active, traders can press the price to close, flat water copper concentrated transactions in the rising water 40 50 yuan / ton, good copper stable in the rising water 90 yuan / ton around; today, part of the downstream bargain replenishment enthusiasm is slightly higher than the previous two days, wet copper discount from the morning market 30 yuan / ton, afternoon market has narrowed to 10 yuan / ton ~ flat water. Copper futures fell to stimulate some enterprises in the market to buy at a bargain, downstream transactions warmer, trade flow activity has also increased, so that today's spot water to maintain stability.

Guangdong No. 1 bright copper quotation is 42100 yuan / ton ~ 42400 yuan / ton. Compared with yesterday, the price difference of refined scrap was reduced to 1396 yuan / ton, copper futures fell, refined copper quotation was lowered to stimulate consumption of downstream enterprises, the trading enthusiasm of scrap copper market was hit, and the transaction of scrap copper market was light.

At the same time, on July 10, the 10th batch of restricted import approval lists were released in 2019, with copper scrap covering Tianjin, Zhejiang, Anhui, Jiangxi and Guangdong. This is the second batch of enterprise lists and quantities approved since the implementation of the import license requirements of the "scrapped six categories" on July 1. A total of 124450 tons have been approved this time, of which Guangdong accounts for the largest proportion, with about 73.68%. The follow-up approval is still under examination and approval.

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