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[SMM scrap column] downstream demand for scrap copper is still exuberant and high.
Jul 9,2020 18:12CST
The content below was translated by Tencent automatically for reference.

Daily review of spot trading of scrap copper

Today, the spot price of electrolytic copper in Shanghai is 40 yuan / ton for the current month's contract, the transaction price of copper in Shanghai is 50440 yuan / ton ~ 50700 yuan / ton, and the transaction price of copper in Shengshui is 50450 yuan / ton ~ 50720 yuan / ton. A-share continued to rise, with frequent news of mine production expansion and shipping delays in South America, and the bullish atmosphere pushed copper prices higher step by step. Copper in Shanghai broke through the 50, 000 mark to 50700 yuan / ton, rising by more than 700 yuan / ton. At one point, the price gap in the morning market narrowed to flat every other month. The holder raised the quotation for good copper and offered 50 yuan per ton for copper, but the market was so afraid of heights that they all stopped to wait and see. The holder showed obvious willingness to cash at a high level. In the case of fruitless trading, good copper took the lead in opening the downward mode, rising water first dropped to about 40 yuan / ton, and leveling copper holders declined all the way in order to close the deal. If it is lowered to 20: 30, there will be a partial deal; Entering the second trading stage, the market can not help but slow down the traders who want to close the transaction quickly, lowering the flat copper adjustment to flat water, the transaction is difficult, and the wet copper is as low as 100 yuan / ton, no one is interested, and most of them have room to lower the price. Copper prices are rising strongly, and the lower reaches remain on the sidelines. Today, the monthly price difference has obviously narrowed, the holders are tangled, and delivery is approaching, and there is a contradiction between cash exchange and the willingness to support rising water, and it is difficult for traders to do anything. There is a lack of support and cooperation in spot transactions under high copper prices.

Guangliang is up 600 yuan / ton today. According to SMM, copper prices are good for the scrap copper industry. Recently, some scrap copper dismantling yards in Guangdong are OK, and the start of disassembly is relatively good, while the overall demand for scrap downstream is still exuberant, and the transaction price is in the high range.

Import profit and loss of scrap copper

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