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SMM January 8
As of 11:30 today, the futures closing price was 74,320 yuan/mt, up 110 yuan/mt from the previous trading day. The average spot premiums/discounts stood at 120 yuan/mt, up 5 yuan/mt from the previous trading day. The price of secondary copper raw material rose by 100 yuan/mt MoM. The price of Guangdong bare bright copper was 68,200-68,400 yuan/mt, up 100 yuan/mt from the previous trading day. The price difference between primary metal and scrap was 1,780 yuan/mt, up 8 yuan/mt MoM. The price spread between primary and secondary copper rods was 1,210 yuan/mt. According to the SMM survey, some secondary copper rod enterprises have already suspended external quotations, while others that halted production at the end of December have decided to resume operations after the Chinese New Year.
