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Review on the spot Trading Day of scrap Copper on July 22
Jul 22,2019 18:08CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 22: today Shanghai copper main 1909 contract morning market opened at 47640 yuan / ton, today Shanghai electrolytic copper spot to the current month contract discount 20 yuan / ton to liter water 50 yuan / ton. Last Friday night, Shanghai copper rushed up 48000 yuan and quickly fell back, today at 47600 yuan / ton line concussion finishing, long closed position concentrated, spot market holders throw goods for a strong mood, although the initial quotation in the rising water 10 to 60 yuan / ton, but there is little transaction, in the initiative of the holder to lower the offer, the offer continues to decline, flat copper quotation as low as 20 yuan / ton, good copper as low as 30 yuan / ton, but the market trading is still weak, The downstream purchase is less, and the wet copper follows the quoted price of 60 yuan to 40 yuan per ton. The disk is uncertain, the downstream fear of high sentiment is strong, more cautious wait-and-see, although traders have the willingness to buy the current selling period, but also afraid that the disk will appear anti-pumping, spot discount is not as good as psychological expectations, market acceptance and progress is declining, the transaction continues to be light.

Guangdong No. 1 bright copper quoted price of 43300 yuan / ton ~ 43600 yuan / ton, the same as yesterday, refined waste price difference of 1873 yuan / ton. Today, Shanghai copper fell back after opening high, and the price difference between fine and scrap prices is still at a high level. First of all, the rise of the absolute price of scrap copper has led to the willingness of scrap copper holders to ship; at the same time, due to the pull of the price difference of refined scrap copper rod has driven the consumption of scrap copper rod, but the terminal consumption is light, the pulling range is limited, and the transaction of scrap copper market has improved slightly.

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