Home / Metal News / Copper / April 21 scrap copper spot trading daily review: lack of confidence in the market at a high level, maintain the pace of profit clearance
April 21 scrap copper spot trading daily review: lack of confidence in the market at a high level, maintain the pace of profit clearance
Apr 21,2020 17:06CST
The content below was translated by Tencent automatically for reference.

"View more information about the recycling industry

SMM, April 21: Shanghai electrolytic copper spot contract today rose 130 yuan / ton ~ 160 yuan / ton, Pingshui copper transaction price 41850 yuan / ton ~ 42190 yuan / ton, Shengshui copper transaction price 41860 yuan / ton ~ 42200 yuan / ton. Overnight crude oil prices fell sharply, US crude oil contract negative for the first time, triggering pessimistic expectations of demand, the overall trend of commodities is still weak, copper prices plummeted to 42000 yuan / ton below as low as 41700 yuan / ton line. The price of copper fell to attract part of the downstream buying, the market morning market continued yesterday's quotation rose 130 ~ 150 yuan / ton, the market inquiry enthusiasm is high, the low price supply transaction is positive, the Pingshui copper rises the water 140 yuan / ton below can press the price 5-10 yuan / ton to have the transaction, the good copper quotes in the rising water 150 ~ 160 yuan / ton, the transaction is inferior to the Pingshui copper. The wet copper is stable in the range of 100 ~ 110 yuan / ton. With the decline of the disk, holders continue to offer, water quotation is stable and there is little room for further decline, traders due to the lack of profit space and stop, the market in the context of precipitous uncertainty in the external environment, the overall performance is cautious.

Guangdong Guang Guangliang copper quoted 39100 yuan / ton ~ 39400 yuan / ton, down 500yuan / ton compared with the previous trading day, fine waste price difference is 136yuan / ton, the ticket point is 6.3%. Copper prices fell sharply today, dragged down by international oil prices, scrap copper traders in the high level of lack of confidence in the future, maintaining profit clearing sentiment. At the same time, the orders of many small electronic processing enterprises have been damaged by the overseas epidemic, waste output is scarce, and the upstream supply of domestic copper scrap is still scarce.

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


Daily review

For queries, please contact Frank LIU at liuxiaolei@smm.cn

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