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[SMM scrap Copper column] the turnover of scrap copper rods in the cable industry is not as expected.
Jul 31,2020 19:32CST
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 at 10-90 yuan per ton for that month's contract, the transaction price of Pingshui copper is 51760 yuan / ton ~ 51920 yuan / ton, and the transaction price of copper is 51820 yuan / ton ~ 51980 yuan / ton. Shanghai copper continued to fluctuate around 51800 yuan / ton first line. Morning market quotation flat water copper in the rising water 20 yuan 30 yuan / ton, good copper price price in the rising water 90 yuan / ton, market transactions more wait-and-see, the end of the month stalemate characteristics are obvious, low activity, demand decline, in the trading price, flat copper trading in the rising water 10 yuan 20 yuan / ton, good copper can be as low as 70 yuan / ton, wet copper down, as low as 80 yuan / ton discount. At the end of the month, enterprises are involved in settlement and invoicing, and there is a lack of buying interest among traders and downstream, and the transaction may improve after the next month.

The price of bright copper in Guangdong is 45900 yuan / ton ~ 46200 yuan / ton, the same as the previous trading day, the price difference of fine waste is 2724 yuan / ton, and the month-on-month expansion is 10 yuan. Copper prices are in a high and volatile trend this week, scrap copper suppliers hold more concussive views and receive and ship goods normally, while downstream cable companies are relatively cautious about copper prices, worried about the downside risk of on-demand procurement, and the cable industry orders are weaker than the previous month, resulting in the recent trading of scrap copper rods not as expected. By the end of this week, the monthly contract deduction for scrap copper rods in Jiangxi to Shanghai copper has been expanded to 1400-1500 yuan / ton.

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