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October 17 scrap copper spot trading daily review: fine waste price spread is low, profit waste enterprise management is difficult
Oct 17,2019 17:55CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, 17 October:

Today, the Shanghai copper main force 1912 contract opened at 46650 yuan / ton in the morning market, and the Shanghai electrolytic copper spot contract rose by 50 yuan / ton to 80 yuan / ton today. Overnight outer plate continued to fall, Shanghai copper followed closely down, copper prices today in the vicinity of 46600 yuan / ton narrow volatility. After the copper price falls back, the holder has the intention to raise the price, the early market quotation rises 60 ~ rises 80 yuan / ton, the trader still has to the flat water copper bargain receives the goods, the early market may press the price to the flat water copper rises 50 yuan / ton, but soon the holder is unwilling to reduce the rising water shipment, the good copper is still less popular than the flat copper, the quotation is almost the same as the flat copper in the rising water 60 yuan / ton, the wet copper quotation is firm in the rising water 30 yuan / ton first line. The second section trading time, the market maintains the stability quotation rises the water 60 ~ rises the water 80 yuan range. After the market fell, the downstream inquiry increased, but because the holder quotation was firm and unwilling to reduce the price for shipment, it was difficult to reach an agreement, and the willingness of traders to enter the market on the premise of rising water was reduced, and the supply and demand sides returned to the sawing stalemate that had not been seen for a long time.

Guangliang copper in Guangdong quoted 43100 yuan / ton ~ 43400 yuan / ton, down 200 yuan / ton compared with yesterday, and the price difference between fine waste and waste is 689 yuan / ton. Since the beginning of this year, the global economy has gone down, the trade situation has intensified, the overall market demand has declined, the performance of the peak season has not been vigorous, the competition among downstream processing enterprises has been fierce, and some enterprises with weak competitiveness have been forced to stop production, and enterprises in operation have also shown that orders are weak. actively looking for new opportunities.

 

 

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