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[SMM scrap Copper column] Copper prices are strong and scrap copper merchants continue to be bullish.
Jul 13,2020 17:04CST
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Source:SMM
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 30 yuan / ton for the current month's contract, the transaction price of copper is 52700 yuan / ton ~ 53280 yuan / ton, and the transaction price of copper is 52720 yuan / ton ~ 53300 yuan / ton. Driven by the bullish atmosphere, the global market showed a phenomenon of floating red in an all-round way. Lun Copper rose to a high in nearly two years, and the price of copper in Shanghai rose by more than 5%, soaring by more than 2, 000, rising to a high of 53400 yuan / ton, and the holders mainly exchanged cash at a high level. although the quotation in the morning market started around 30 yuan per ton, there was a price reduction tide very quickly, and flat copper was the first to drop to about 10 yuan per tonne. Good copper quoted a rise of 20 to 30 yuan per ton. But the market is still lack of interest, few transactions; At about 10 o'clock, flat copper was generally quoted as flat water, and the price of good copper rose by 10 yuan to 20 yuan per ton, but the actual transaction was at a lower price, especially by the end of the afternoon, it could be heard that part of the flat copper price could be reduced to 10 yuan / ton. Today, the purchase volume downstream is rare, and the wet method is as low as 80 yuan 60 yuan / ton. The commodity market has soared in an all-round way, but the spot market is far less than the strong performance of futures. Holders actively exchange cash at high prices and strive to close a deal. Buyers are afraid of high prices, and there is a lack of buying in the market. However, in the face of the approach of delivery, the price difference between the current month and the next month has changed, and the near-weak and far-strong pattern makes the holders unwilling to trade at a discount. If this pattern is maintained before delivery, the spot quotation will be deadlocked at the current quotation level, which is difficult to lower the price and raise the water.

The price of bright copper in Guangdong is 47000 yuan / ton ~ 47300 yuan / ton, which is 1700 yuan higher than that of the previous trading day. The price difference of fine waste copper is 2680 yuan / ton, and the month-on-month expansion is 576 yuan. Copper prices have jumped sharply, while scrap prices have risen relatively slowly, and many scrap copper merchants still have strong confidence in the future of copper prices, and they actively choose to cover the market and cherish sales, and the willingness to ship goods is not high, and the merchants who have agreed to ship goods in the early stage have stopped shipping. As a result, the procurement volume of downstream manufacturers has been reduced.

Import profit and loss of scrap copper

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