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April 9 scrap copper spot trading daily review: the epidemic in the United States is about to peak, the market bullish sentiment is greatly enhanced
Apr 9,2020 18:54CST
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Source:SMM
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SMM, April 9: Shanghai electrolytic copper spot contract today rose 70 yuan / ton ~ 120 yuan / ton, Pingshui copper transaction price 40880 yuan / ton ~ 41000 yuan / ton, Shengshui copper transaction price 40890 yuan / ton ~ 41020 yuan / ton. Shanghai copper opened high and low to 40850 yuan / ton line, blocked at the 41000 yuan level. The morning market quotation is about 130 yuan / ton, but the holder shows the mood of exchanging cash at an obvious high level. In the case of fruitless transaction, good copper is the first to fall to 110-120 yuan / ton, and flat water copper is reduced to 90-100 yuan / ton. In the second trading stage, there are still few transactions, but the holder speeds up the rate of price reduction, and good copper drops to 80-90 yuan / ton, which is still rarely favored. Pingshui copper in order to lower the transaction to 70 yuan / ton still has room to depress the price, wet copper significantly reduced to 40 ~ 60 yuan / ton, lack of attention, downstream to maintain just need. Today, the holder of the entanglement, cash exchange and the willingness to raise water contradiction glued, the lack of support in the market transaction is difficult to mention, high copper prices make it difficult for the market to stop.

Guangdong Guang Guangliang copper quoted 38000 yuan / ton ~ 38300 yuan / ton, up 100 yuan / ton from yesterday, fine waste price difference is 104 yuan / ton, the ticket point is 6.6% calculation. The epidemic in the United States is expected to peak, as well as further unsealing at home, boosting macro sentiment, the willingness of businesses to hold goods to be increased or to receive goods has increased, and the tight supply of domestic scrap copper will not change much in the short term. And as imports of scrap copper are blocked, there is also growing pressure on the supply of scrap brass.

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