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October 22 scrap copper spot trading daily review: imported scrap copper will still be replenished one after another in the short term.
Oct 22,2019 18:23CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 22: Shanghai copper main force 1912 contract opened in the morning market of 47150 yuan / ton, today Shanghai electrolytic copper spot contract rose 60 ~ 100 yuan / ton. The copper of Shanghai period fluctuated along a narrow range of 47100 yuan / ton. Because on the 25th of this month, involving the suspension of the tax ticket system upgrade ticket, there is still a willingness to raise the price of the monthly ticket, the morning market quotation rose by 80 ~ 100 yuan / ton, but the spot market purchase is still weak, and the holder was forced to lower the quotation price by 70% to 90%, and the transaction is still more on the sidelines. Section II trading stage, transaction blocked, the holder once again took the initiative to lower the offer, good copper quotation as low as 80 yuan / ton, Pingshui copper generally adjusted to 60 yuan / ton, wet copper concentrated quotation in the rising water 30 ~ 50 yuan / ton. The quotation of next month ticket accounts for a larger proportion in the market, with the difference between the ticket price of the current month and the ticket price of 20% 30 yuan / ton. Copper prices are high, superimposed supply is sufficient, buying is weak, the market is afraid of high sentiment, traders speculate cautiously, downstream actual consumption is weak. The share of monthly tickets will further increase tomorrow and next year, and the SMM quotation space will be enlarged.

The price of bright copper in Guangdong is 43300 yuan / ton ~ 43600 yuan / ton, which is the same as yesterday, and the price difference between fine waste and waste is 947 yuan / ton. As the interval between the four batches of scrap copper import is relatively long, the import of scrap copper will still arrive in Hong Kong in a short period of time, the supply of imported scrap copper is still continuous, and some waste enterprises have purchased copper ingots for raw material replenishment, so the market is not in short supply for the time being, but it is expected that after one or two months, the import scrap copper will become tighter, and enterprises will gradually need to supplement through domestic scrap copper or copper ingots, and the impact on enterprise production will gradually appear.

 

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