Comment on the spot Exchange Day of scrap Copper on April 8: the export of scrap copper abroad has been blocked, which has affected the gradual transmission of waste copper to the domestic production end.

Published: Apr 8, 2020 17:31

Save

"View more information about the recycling industry

SMM, April 8: Shanghai electrolytic copper spot contract today rose 130 yuan / ton ~ 150 yuan / ton, Pingshui copper transaction price 40620 yuan / ton ~ 40820 yuan / ton, Shengshui copper transaction price 408630 yuan / ton ~ 40830 yuan / ton. The low opening and high walking of copper in Shanghai period has moved up from 40300 yuan / ton to 40800 yuan / ton. The opening of the market continues yesterday's quotation of 130 yuan / ton to 150 yuan / ton, the willingness to raise the price remains unchanged, the source of low-cost goods is difficult to find, the actual shipment of the market is still concentrated in flat water copper 130 yuan / ton, good copper water 140 yuan / ton, there is little room for price difference, traders are difficult to make a difference. Downstream is still in demand, wet copper to maintain 90 ~ 100 yuan / ton quotation. Spot copper stocks are still declining, spot rising water is difficult to have room to decline, copper futures is strong, tidying up above 40,000, the pattern of transaction sawing stalemate is also difficult to break for a while.

Guangdong Guang Guangliang copper quoted 37900 yuan / ton ~ 38200 yuan / ton, the same as yesterday, the fine waste price difference is-14 yuan / ton, the ticket point is calculated as 6.6%, the ticket points in East and South China remain on the high side in the near future. Today's recovery in copper prices is insufficient momentum, a small rise, may enable upstream suppliers to profit from the sale of some of the supply. In addition, according to SMM, the export of waste copper abroad has been blocked recently, and it has been gradually transferred to domestic waste enterprises, and the restriction of the lack of follow-up raw materials on production should be gradually increased.

Scan QR code, apply to join SMM metal communication group, please indicate company + name + main business

Daily review regeneration

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

18 mins ago

Copper Prices Center Moves Up, Shanghai Spot Copper Premiums Continue to Fall Under Pressure [SMM Shanghai Spot Copper]

[SMM Shanghai spot copper] Looking ahead to tomorrow, as delivery approaches, the inter-month backwardation has further widened to above 300-400 yuan/mt. The cost of contract rollover rises accordingly for suppliers, and their willingness to sell spot copper increases, significantly capping premiums against the front-month contract. Today, sentiment in sales and procurement improved somewhat from yesterday, but as the SHFE copper price center rose above 108,000 yuan/mt, downstream users still mainly made just-in-time procurement, showing limited acceptance of high-priced offers. Meanwhile, some standard-quality copper has fallen to a discount of 10 yuan/mt to near parity, discounts for non-registered copper have widened further, and low-priced sources continue to weigh on mainstream standard-quality copper quotes. Overall, driven by the widening backwardation spread, increased willingness to sell among suppliers near delivery, and high copper prices suppressing consumption, the price center of Shanghai spot copper quotes against the 2608 contract is expected to continue to shift lower tomorrow, possibly showing a discount.

18 mins ago

1 hour ago

PT Smelting Gresik Sudden Accident! [SMM Analysis]

[PT Smelting Gresik Incident!] The converter at PT Smelting Gresik experienced a molten material leak accident, and repairs are expected to take at least several weeks. Affected by low anode inventory, the smelting suspension has impacted copper cathode production. Copper cathode shipments will be suspended in the coming weeks, and the plant is negotiating with clients for delayed deliveries. The plant has a copper cathode capacity of 342,000 mt/year and a smelting capacity for copper concentrates of about 1.3 million dmt/year.

1 hour ago

2 hours ago

[SMM Tin Flash: Announcement on Approving Minmetals Wuxi Logistics Park Co., Ltd. to Adjust the Approved Storage Capacity of Copper, Tin, and Stainless Steel Futures Delivery Warehouses]

In accordance with the Measures for the Administration of Delivery Warehouses of Shanghai Futures Exchange and other relevant regulations, it is hereby decided that: 1. Approve the reduction of the approved storage capacity of copper futures at the storage location of Minmetals Wuxi Logistics Park Co., Ltd. at No. 1 Tangang Road, Huishan District, Wuxi City, Jiangsu Province, from 20,000 mt to 15,000 mt; the approved storage capacity of tin futures from 2,000 mt to 1,000 mt; and the approved storage capacity of stainless steel futures from 70,000 mt to 60,000 mt. 2. Approve the storage location of Minmetals Wuxi Logistics Park Co., Ltd. at No. 8 Xinsha Road, Machong Town, Dongguan City, Guangdong Province, to become a delivery warehouse storage location for copper futures, with an approved storage capacity of 5,000 mt and no regional premium. All relevant entities shall attach great importance and effectively carry out all tasks to ensure the normal and orderly progress of delivery operations. Hereby announce. Shanghai Futures Exchange August 10, 2026

2 hours ago