Daily Review of scrap Copper on May 6: the benefit of scrap Copper Rod is getting better, and the enterprise is preparing for the resumption of production.

Published: May 6, 2020 17:19

Save

"View more information about the recycling industry

SMM, May 6: Shanghai electrolytic copper spot contract today rose 130 yuan / ton ~ 160 yuan / ton, Pingshui copper transaction price 42750 yuan / ton ~ 42890 yuan / ton, Shengshui copper transaction price 42760 yuan / ton ~ 42900 yuan / ton. Shanghai copper opened low after the opening of the market, the first day after the festival holders quoted actively, the price in the morning market slightly up to 130 ~ 140 yuan / ton, low prices to attract traders to accept goods, transactions can be done, then flat copper up to 140 yuan / ton, good copper 150 ~ 160 yuan / ton, up into a stalemate after the transaction, downstream after the delivery of goods to maintain a state of need, wet copper quotation deadlock in about 100 yuan. Today's overall transaction is general, most of the morning market consignees are some large traders, mainly for their post-festival low inventory state of the appropriate replenishment, the holder is not willing to sell at a low price, the supply and demand sides show the characteristics of wait-and-see saw on the first day after the festival.

The price of Guangliang copper in Guangdong is 39800 yuan / ton ~ 40100 yuan / ton, which is 100 yuan / ton lower than that of the previous trading day, and the price difference between fine waste and waste is 280yuan / ton. According to SMM, in the near future, the fine waste price difference has been continuously repaired, and the benefit of the scrap copper rod has improved. The production enterprises that stopped in the early stage are preparing for the resumption of production. It is expected that the start of the scrap copper rod in May should pick up slightly, but in the long run, the scrap copper will also tighten to limit the degree of recovery of the operating rate.

(information hotline: SMM Xinyong 021-51595820)

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 to learn 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

3 hours ago

Shanghai Copper Spot Prices to Remain Under Pressure Amid High Inventories and Soft Demand

Shanghai copper spot to stay under pressure tomorrow. Recent arrivals of imported copper—including Japanese brands like SRP and TAMANO-P—are weighing on spot discounts. Demand softened as end-users showed limited acceptance of higher prices. Some holiday restocking emerged, but high spot inventories cap any upside. The narrow spread between high-grade and standard-grade copper reflects subdued actual consumption. The spot discount against the 2604 contract is expected to persist.

3 hours ago

Early-Month Purchasing and Stockpiling Failed to Offset the Impact of Imports, SHFE Copper Spot Premiums Remained Under Pressure [SMM Shanghai Spot Copper]

[SMM Shanghai Spot Copper] Looking ahead to tomorrow, the Shanghai spot copper market is expected to see a phased recovery. Demand side, as a new monthly procurement cycle begins, the previously pent-up purchasing demand of downstream enterprises will be gradually released. Coupled with the stockpiling window ahead of the Qingming Festival, market inquiry activity is expected to rebound, and trading conditions may improve significantly from month-end levels, providing some support for spot discounts. From the market structure perspective, the price spread between high-quality copper and standard-quality copper has remained at a relatively narrow level, reflecting that actual consumption demand still dominates the market, while brand premiums have weakened. Supply side, imported cargoes have continued to arrive recently, and the destocking speed of social inventory in Shanghai has slowed, leaving overall circulating supply relatively ample and limiting the room for discount recovery. Overall, driven by early-month procurement and pre-holiday stockpiling, spot prices against the SHFE copper 2604 contract are expected to see some narrowing in discounts tomorrow.

3 hours ago

Market Activity Increased After the Contract Rollover, Spot Premiums Continued to Rise [SMM South China Spot Copper]

3 hours ago