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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.
Apr 8,2020 17:31CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

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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.

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