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Review on the spot Trading Day of scrap Copper on July 11
Jul 11,2019 18:07CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 11 / PRNewswire-Asianet /-

Today, the Shanghai copper main 1909 contract morning market opened at 46560 yuan / ton, overnight basic metals generally rebounded, copper prices returned to above 46000 yuan / ton, rebounding to 46400 yuan / ton line, copper prices rose nearly 700 yuan / ton. Today, Shanghai electrolytic copper spot to the current month's contract water 60 yuan / ton ~ 110 yuan / ton water. When the disk level hovered low yesterday, the buying activity of downstream and traders was relatively high. After the rebound today, the buying strength of the market weakened. In the morning, the quotation of the holder rose 80 to 120 yuan / ton. Under the premise of higher saturation, the transaction was significantly difficult. The holder took the initiative to downgrade the quotation. The flat water copper concentrated on 60 to 70 yuan / ton, and the good copper was stable in the vicinity of 100 yuan / ton. Wet copper maintained the characteristics of low price. The transaction was made at 10 yuan per ton of water discount and 10 yuan per ton of water. The macro environment uncertainty is enhanced, the consumption is difficult to block the market alone, the high position suppresses part of the downstream buying sentiment, the market transaction enthusiasm weakens, the transaction heat is obviously not as good as yesterday, again shows the stalemate pattern.

Guangdong No. 1 bright copper quoted price of 42500 yuan / ton ~ 42900 yuan / ton, up 400 yuan / ton compared with yesterday, the difference of refined waste price is 1654 yuan / ton. The small increase in the price difference between fine and waste is not obvious to the market. According to the existing approval, it is expected that the gap in the amount of copper scrap metal imported in the third quarter is not large, but now the market consumption is weak, the purchasing enthusiasm of waste enterprises is weak, and the copper scrap market is still weak. The market is now focused on the progress of restricted import scrap copper approvals in other regions.

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