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October 9 scrap copper spot trading daily review: scrap copper with ticket supply shortage, scrap copper ticket point up
Oct 9,2019 18:03CST
The content below was translated by Tencent automatically for reference.

SMM, 9 October:

Today, the Shanghai copper main force 1911 contract opened in the morning market at 46600 yuan / ton, and today the Shanghai electrolytic copper spot contract rose by 100 yuan / ton to the current month contract. The dollar rose to a high of 99.2, putting pressure on copper prices, and Shanghai copper fell below all moving averages to 46600 yuan per tonne. Morning market holders quoted water 100 ~ 130 yuan / ton, the market under the guidance of traders to inquire actively, active buying increased significantly, a round of active collection in the morning market ordered the holder to lift the offer immediately, Pingshui copper pushed up to 110 ~ 120 yuan / ton, good copper rose to 130 ~ 140 yuan / ton, the transaction activity was suppressed after the rising water, and it is difficult to show further improvement for the time being. Wet copper followed by the rise, stable rising in the rising water 70 yuan / ton ~ 80 yuan / ton. The performance of the disk price fell today, attracting downstream market entry on a bargain basis, the demand for goods improved significantly, the source of low-rise water goods was still attractive, and traders were still interested in pushing up water again. Today's buying contribution was led by traders. If the market continues to decline, the rising water may hold firm.

The quotation of bright copper in Guangdong is 43100 yuan / ton ~ 43400 yuan / ton, which is down 200 yuan / ton compared with that before the festival, and the price difference between fine waste and waste is reduced to 784yuan / ton. Recently, due to the shortage of domestic scrap copper supply, at the same time downstream for fear of bill crisis, priority to choose scrap copper, resulting in market scrap copper bills tight, the ticket point has been raised, so SMM adjusted scrap copper ticket point to 6%. Scrap copper consumption is still no improvement, and the future consumption is pessimistic, so maintain a wait-and-see; scrap copper holders cover goods undiminished mood, resulting in the scrap copper market to maintain a light pattern. The market looks forward to the guidance of Sino-US trade negotiations.

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