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[SMM scrap Copper column] the downstream demand is exuberant and the supply and demand maintain a tight relationship.
Jul 20,2020 17:11CST
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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 quoted a price of 50 to 110 yuan / ton for the current month's contract, 51300 yuan / ton to 51400 yuan / ton for Pingshui copper, and 51350 yuan / ton to 51450 yuan / ton for Shengshui copper. Shanghai copper continues to consolidate in the 5-10 moving average range, mostly in the 51250 / ton range of 51350 yuan / ton. In the morning market, the holder quoted a price stable at 50 RMB60 / ton for copper rising water in Pingshui, while good copper rose as high as 120 yuan / ton for rising water, and the transaction of flat copper remained active. For a short time, some brands, such as Dajiang small board, could lower the price to 40 yuan / ton, while in the second trading session, it was difficult to find flat copper with a rising water of 50 yuan / ton, and some consignors raised the price to 70 yuan / ton, but the transaction was significantly suppressed. The price difference of good copper is unique. Due to well-known reasons, ENM's quotation is almost close to flat copper, the domestic good copper market is hard to find, and the sole deposit-P is as high as 100 RMB110 / ton, which makes traders who receive good copper in a dilemma. The quotation of wet copper followed up at the discount of about 30 yuan / ton. The downstream is just needed, and the transaction continues to improve slightly. This week entered the long single delivery cycle, and the copper is in a correction period, the holder intends to rise the water, rising water is easy to rise but difficult to fall, the market transaction will also be significantly improved.

The price of bright copper in Guangdong is 45800 yuan / ton ~ 46100 yuan / ton, the same as the previous trading day, the price difference of fine waste is 2336 yuan / ton, and the month-on-month price is narrowed by 315 yuan. Copper prices are adjusted at a high level, but the overall situation is still good for the outflow of scrap copper, and the supply is improved compared with the first and second quarters, while the scrap copper pole operates under high load, the demand for scrap copper raw materials is strong, and the relationship between supply and demand remains tight.

Import profit and loss of scrap copper

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