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Review on the spot Trading Day of scrap Copper on July 12
Jul 12,2019 18:54CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 12 / PRNewswire-Asianet /-

Today, the main 1909 contract of Shanghai Copper opened at 46680 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported a rise of 60 yuan per ton to 120 yuan per ton of water for the current month. Shanghai copper continued to rebound to 46600 yuan / ton line. In the morning, we continued yesterday's quotation of 70 to 120 yuan / ton, flat copper concentrated on 60 to 70 yuan / ton, good copper accounted for a low proportion, so attracted some traders to take the initiative to receive goods, good copper prices 110 to 120 yuan / ton, and even the willingness to push up 130 yuan / ton; the market buying flat, downstream performance stopped, making wet copper stalemate near Pingshui. Market transactions in general, today's market supply and demand performance stalemate, next Monday is the last trading day of the month, pay attention to the monthly spread as a guide.

Guangdong 1 # bright copper quotation is 42600 yuan / ton ~ 42900 yuan / ton, 100 yuan / ton higher than yesterday, the difference of refined waste price is 1660 yuan / ton. Copper futures rose, fine scrap price difference rose slightly, but now the absolute price of scrap copper is on the low side, scrap copper manufacturers cover goods to cherish the sale mood is strong; at the same time, off-season market pressure, waste enterprises are still in a loss-making production state, production enthusiasm is not high, procurement is less.

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