Concerns Over Raw Material Selling Prices Being Suppressed Lead Secondary Copper Raw Material Suppliers to Sell Off [SMM Secondary Copper Daily Review]

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SMM December 26

        At 11:30 today, the futures closing price was 74,220 yuan/mt, up 140 yuan/mt from the previous trading day. The average spot premiums/discounts were 25 yuan/mt, down 50 yuan/mt from the previous trading day. The price of secondary copper raw material remained unchanged MoM. The price of Guangdong bare bright copper was 68,800-69,000 yuan/mt, unchanged from the previous trading day. The price difference between primary metal and scrap was 947 yuan/mt, up 90 yuan/mt MoM. The price spread between primary metal and secondary copper rod was 810 yuan/mt. According to the SMM survey, with the new policy implementation approaching, some suppliers of secondary copper raw material were concerned that prices might be suppressed by secondary copper rod plants after the New Year. Today, many suppliers actively sold their secondary copper raw material to reputable factories. Some factories reported purchasing nearly 60 truckloads of secondary copper raw material today and, due to concerns about excessive inventory, issued notices to stop further purchases.