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October 25 scrap copper spot trading daily review: scrap copper supply is expected to tighten, holders are in high spirits
Oct 25,2019 18:29CST
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Source:SMM
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SMM, Oct. 25: today's Shanghai Copper main 1912 contract opened in the morning market of 47340 yuan / ton, today Shanghai electrolytic copper spot to the current month contract discount 20 ~ 10 yuan / ton. The copper rush height of Shanghai period is blocked in the first line of 47200 yuan / ton. According to the announcement of the Shanghai Internal Revenue Bureau, starting today, the market can no longer issue the current monthly ticket, fully open the quotation for the next monthly ticket, the market is abundant, and the holder's willingness to exchange cash is strengthened. Pingshui copper appeared a discount quotation early in the morning, and good copper can only be maintained in the first line of rising water 10 yuan / ton, because the inquiry atmosphere is also relatively light, very few people want the goods, and Pingshui copper is the first to drop to 20 yuan / ton. A small number of lower prices, good copper reported to be reduced to flat water, although the transaction is still weak, but the holder is not willing to discount the shipment. Wet copper kept pace with the market price reduction, and the discount continued to expand, from 30 yuan / ton to 50 yuan / ton. Although copper prices have fallen, but still in a high position, the market remains cautious wait-and-see; traders expect a larger discount price to receive goods, the market buying low is still the main reason for the rise and fall.

Guangdong Guang Guangliang copper quoted price of 43400 yuan / ton ~ 43700 yuan / ton, flat compared with yesterday, fine waste price difference is 895 yuan / ton, so far this year has issued five batches of approval documents, a total of 541600 tons of scrap copper, about 433300 metal tons, only about 60% of the import volume in the second half of last year. The market is expected to be more tight in the future domestic recycled copper supply, so the offer of holders is still strong, but electrolytic copper has a small discount, fine waste price difference is further narrowed.

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