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October 23 scrap copper spot trading daily review: from January to September, the cumulative import of scrap copper fell obviously compared with the same period last year, and the concern about scrap copper supply is becoming more and more serious.
Oct 23,2019 18:14CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 22: today's Shanghai Copper main 1912 contract opened in the morning market of 47010 yuan / ton, today Shanghai electrolytic copper spot contract rose 30 ~ 80 yuan / ton for the current month. Shanghai copper pressure fell to 47000 yuan / ton below. The willingness of the holder to exchange cash is gradually strengthened, but some of the quotations are firm and there is demand for the current monthly ticket, which makes the early market quotation rise by 50 yuan / ton to 80 yuan / ton, but there is little demand. Under the guidance of the rapid reduction in the price of next month's ticket, the overall quotation in the market is declining rapidly. The monthly ticket is adjusted to the vicinity of 50 yuan / ton, and the flat copper ticket is reduced to 30 yuan / ton to 50 yuan / ton. only then can the transaction improve. The supply of wet copper was reduced from 30 yuan / ton to flat water. The price difference between the current monthly bill and next month's bill is 20% 30 yuan / ton. Today, the number of exchangers has increased significantly, but the downstream demand remains rigid, and most of the transactions are completed by long single delivery. The risk aversion sentiment before the national tax upgrade has also increased the number of exchangers. Under the pattern of supply exceeding demand, the conversion factor makes the rising water and falling become the leading behavior of the market.

Guangliang copper in Guangdong quoted 43200 yuan / ton ~ 43500 yuan / ton, down 100 yuan / ton compared with yesterday, and the price difference between fine waste and waste is 918 yuan / ton. According to customs data, China imported 150000 tons of waste copper in September, down 21.2 percent from the same period last year, and 1.24 million tons from January to September, down 30.4 percent from the same period last year. However, due to the rise in import taste of scrap copper, the amount of scrap metal imported did not show a shortage for the time being, but because profits remained weak, the supply of domestic scrap copper decreased, and the sentiment of covering goods upstream continued. Most of the downstream waste enterprises expressed concern about the subsequent scrap copper supply this year.

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