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[SMM scrap Copper column] Brass consumption continues to be weak, raw material supply and demand has been loose.
Jul 15,2020 16:33CST
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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 52050 yuan / ton ~ 52150 yuan / ton, and the transaction price of copper is 52070 yuan / ton ~ 52170 yuan / ton. Some bullish positions left the market, and the high level of copper in Shanghai fell back to 52000 yuan / ton, a decline of about 800yuan / ton. Approaching delivery month, speculators favor low-price sources of goods. The morning market quotes flat water to rise water 20 yuan / ton, the market stops to wait and see, buying is less, after 10:30, the price difference changes sharply every other month, and the price difference returns, which is higher than 10: 20 yuan / ton in recent months. The low-price supply is favored by the market to buy actively, after the flat water copper quotation rises 10 yuan / ton, the good copper quotation rises 20ml 30 yuan / ton; Wet copper is abundant, consumption has not improved significantly, the price of the holder is enthusiastic, and the price is lower than yesterday, from 60 RMB 70 yuan / ton to 90 yuan / ton. In the face of drastic changes in price spreads, traders are cautious in trading, mainly buying bargains. During the week, the performance downstream of sharp rises and falls is still cautious and the activity is low. Tomorrow, we will pay attention to the guidelines for spot quotations due to the changes in the price difference between two months. Today, some consignors have quoted prices in August, and the basic performance remains stable from flat water to rising water 30 yuan / ton.

The price of bright copper in Guangdong is 46600 yuan / ton ~ 46900 yuan / ton, which is 100 yuan / ton higher than that of the previous trading day. The price difference of fine waste is 2567 yuan / ton, and the month-on-month expansion is 244 yuan. The good order of waste copper rod drives the demand of waste copper by waste enterprises, and the supply and demand is still tight. Due to the grim situation of downstream exports and the depression of the brass bar industry, the average operating rate of brass bar enterprises in June was 64.07%, down 0.64% from the previous month, and 8.34% lower than the same period last year. The operating rate of brass bars is expected to be 63.78% in July, demand continues to weaken slightly, superimposed with a large number of copper ingots to replace, the overall raw materials of brass processing enterprises have been relatively loose.

Import profit and loss of scrap copper

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