SMM7 13 North China Copper spot Market Express: copper skyrocketed downstream fear of high precision scrap price spread to expand buying to scrap copper

SMM July 13: today, the spot price of electrolytic copper in North China is quoted as a discount of 10 to 50 yuan per ton for that month's contract, with a transaction price of 52690 yuan / ton to 53390 yuan / ton. Driven by the bullish atmosphere, the global market showed an all-round red phenomenon. Lun Copper rose to its highest level 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 downstream purchasing turned weak. Smelters and traders were forced to take the initiative to reduce their prices to attract downstream buyers. Today's prices are already discounted, and the average price of rising and discounting is 30 yuan / ton lower than last Friday. It is reported that copper prices have skyrocketed, scrap prices have risen relatively slowly, and the price gap between refined waste has widened again. At present, the price gap between refined copper has widened from the original 2100 yuan / ton to 2600 yuan / ton, the space for scrap copper and electrolytic copper has expanded, and more northern processing enterprises have turned to scrap copper materials. Scrap copper occupies an obvious market for refined copper.

(Chen Ming 021 muri 51595816)