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[SMM scrap column] Copper prices are under pressure. Copper scrap merchants panic and actively ship goods.
Jul 24,2020 19:11CST
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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 20 to 90 yuan per ton for that month's contract, 51820 yuan / ton to 51980 yuan / ton for Pingshui copper, and 51870 yuan / ton to 52020 yuan / ton for Shengshui copper. Shanghai copper pressure 52000 yuan / ton shock finishing. The morning market holder continued yesterday's quotation of Pingshui copper 40 yuan 50 yuan / ton good copper water 90 won 100 yuan / ton, but the deal was difficult. Today Friday, the monthly long order is coming to an end, and the holder has a strong willingness to cash, so he has no choice but to take the initiative to lower the quotation. Good copper is lowered to 70 yuan 80 yuan / ton, and the flat copper quotation is mostly 30 yuan / ton, but the buyer's intention is even lower. After a long confrontation between supply and demand, Pingshui copper raised 20 yuan / ton so that the transaction has been slightly improved, and the quotation of wet-process copper has been slightly lowered, from 50-40 yuan / ton to 70 yuan / ton, and some of the low-end difference of wet-process copper can be as low as 100 yuan. The willingness to receive goods downstream is low, and the actual consumption is weak. Shanghai social inventory continued to increase this week, making it difficult for holders to expect rising water to enter the end of next month, superimposed disk rebound brought about a wait-and-see stop downstream, the off-season effect is becoming more and more obvious.

The price of bright copper in Guangdong is 46100 yuan / ton ~ 46400 yuan / ton, the same as the previous trading day, the price difference of fine waste is 2560 yuan / ton, and the month-on-month expansion is 55 yuan. Today, copper prices are under pressure, and scrap copper merchants are actively selling goods, but the downstream of the scrap copper rod factory is afraid of falling and purchasing cautiously, resulting in some unsalable scrap copper rods. Under the sufficient supply of scrap copper, the manufacturers do not have a high purchasing desire and purchase according to the plan.

Import profit and loss of scrap copper

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