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Review on the spot Trading Day of scrap Copper on July 17
Jul 17,2019 18:24CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, July 17 / PRNewswire-Asianet /-

Today, the main 1909 contract of Shanghai Copper opened at 46840 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported flat water to 80 yuan / ton of water for the current month. Shanghai copper continued the concussion pattern, continued to revolve around 46800 yuan / ton first-line finishing. Morning market holders quoted water 20 to 80 yuan / ton, flat water copper water 20 yuan / ton first ushered in a wave of positive trading, the transaction is OK, and then flat water copper is generally priced around 30 yuan / ton; Good copper tries to follow, but good copper stops at 90 yuan per ton of water. Although there is an offer, it is still difficult to make a general deal. Most of the transactions are concentrated in 70 yuan to 80 yuan per ton of water, and the downstream buying is weak. Wet copper quotations maintain a discount of 40 to 20 yuan / ton range shock. After yesterday's traders received goods at a lower price, today, although traders still have the willingness to receive goods, it is more difficult to have room for price reduction. Most of the holders are unwilling to ship at a low price. Although the market inquiry is positive, the actual transaction is weaker than yesterday. The market activity is also lower than yesterday, and the market is obviously deadlocked again.

Guangdong No. 1 bright copper quoted price of 42800 yuan / ton ~ 43100 yuan / ton, the same as yesterday, refined waste price difference of 1679 yuan / ton. The price difference of refined scrap remains high, and the spread of refined copper rod also expands slightly, but at present, the output of various enterprises is maintained at a low level, the demand is relatively small, and some copper scrap rod enterprises are still shutting down production, resulting in a sharp decline in the starting rate in June compared with the previous month, and the overall industry of scrap copper rod has not shown a significant improvement; the shipowners still maintain a small amount of shipment status. The market is now looking forward to a pick-up in terminal consumption to drive demand.

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