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April 23 scrap copper spot trading daily review: the market supply is still small, profit waste enterprises continue to use electrolytic copper production
Apr 23,2020 17:51CST
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Source:SMM
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SMM, April 23: Shanghai electrolytic copper spot contract today rose 170 yuan / ton ~ 190 yuan / ton, Pingshui copper transaction price 41900 yuan / ton ~ 42040 yuan / ton, Shengshui copper transaction price 41910 yuan / ton ~ 42050 yuan / ton. Shanghai copper rose to 41800 yuan / ton, rebounding about 1000 yuan. The morning market holder quotation is firm, the market inquiry is active, the market continues yesterday's quotation in the rising water 170 ~ 190 yuan / ton, the good copper concentrates in the rising water 180 yuan / ton first line, the majority of the holder flat water copper price is above 170 yuan / ton, the flat water copper small amount may press the price to 160 yuan / ton, the downstream buying market is not as good as yesterday, the wet method copper performance is slightly lower than yesterday, the quotation in the rising water 130 ~ rises 150 yuan / ton. Copper futures rose more, holders maintained high prices, downstream buying fell significantly, traders speculative space is limited, the characteristics of both supply and demand are obvious.

Guangdong Guang Guangliang copper quoted 39100 yuan / ton ~ 39400 yuan / ton, up 700 yuan / ton from the previous trading day, fine waste price difference is 86 yuan / ton, the ticket point is 6.3%. The supply of goods in the market is still relatively small, a considerable number of downstream manufacturers in the case of difficult to purchase scrap copper, continue the early conversion to electrolytic copper production. In addition, the solid waste Center announced the sixth batch of import restriction approval documents for 2020 on April 23. A total of six copper-related enterprises were approved this time, with an approved import volume of 2150 tons, a relatively small quantity, and more than 90% of them fell in Jiangxi. The total number of scrap copper import approvals for the first six batches this year is 529800 tons, accounting for about 94 percent of last year. The approval volume is relatively loose. The policy on renewable copper resources will soon be implemented in July this year. At this point in time, the market expects that the volume of subsequent approvals should not be too large.

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