Home / Metal News / Copper / [SMM scrap Copper column] the shipping giant will shut down the solid waste and how much it will affect the import of scrap copper.
[SMM scrap Copper column] the shipping giant will shut down the solid waste and how much it will affect the import of scrap copper.
Jul 22,2020 19:35CST
translation
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 quoted as 20-120 yuan / ton for that month's contract, 52500 yuan / ton to 52630 yuan / ton for Pingshui copper, and 52560 yuan / ton to 52700 yuan / ton for copper in Shengshui. Overnight gold and silver crude oil rose sharply, leading the base metals to turn red across the board. Copper in Shanghai rebounded by 1.5% and rose by 52600 yuan / ton, an increase of about 700 yuan / ton. In the morning, the consignor quoted Pingshui copper for 50 RMB60 / ton, good copper 110Mel 130 yuan / ton, fear of heights rose again, and it was difficult to get an actual deal. The outflow of superimposed warehouse receipts increased the willingness of holders to exchange high positions. Some consignors tried to reduce prices to promote trading, and rising water opened the way of downward adjustment. Pingshui copper dropped directly to about 30 yuan / ton of rising water, and the inquiry improved, and the buying interest improved. It is difficult to quote a good copper shipment and adjust it to about 100 yuan / ton. Entering the second section of the trading stage, the overall transaction of the market is still weak and difficult to rise. Flat copper has actively dropped to 20 yuan / ton of rising water, and the long order is sold to pick up the goods, so that the rising water temporarily stabilizes, the room for good copper price reduction is limited, and the transaction price is maintained at 80,000,100 yuan / ton. there is a big difference in the quotation of wet-process copper. Some of the top bidders are always at a discount of 30 yuan per ton, while some of the low-end difference of wet-process copper can be as low as around 100 yuan. The average price of wet copper is passively dragged down by the discount of about 60 / ton. Copper prices have risen by more than 1,000 for two consecutive days, copper prices are high, the outflow of goods continues to increase, and the downstream is back to being afraid of high prices to stop and wait and see. Today, most of the market transactions are still long single traders, but under the strong market, the target psychological price may be even lower. Sellers are more concerned about high and fast cash.

The price of bright copper in Guangdong is 46600 yuan / ton ~ 46900 yuan / ton, which is 500 yuan higher than that of the previous trading day. The price difference of fine waste copper is 2707 yuan / ton, and the month-on-month expansion is 127yuan (ticket point is calculated as 6.3RMB). On July 20, Maersk announced that it would stop receiving all solid waste shipments to mainland China and Hong Kong, including global shipping giants Dafei Shipping and Herberot. For details, see "what is the impact of the shipping giant's suspension of solid waste on the import of copper scrap"

Import profit and loss of scrap copper

Scan the code to apply to join the SMM industry communication group:

Scrap metal
import and export
quotation
spot

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news