Overseas Supply Tightens, Coefficient Quotations Remain Firm [SMM Secondary Copper Daily Review]

Published: Jan 10, 2025 21:40

Save

》View SMM Copper Quotes, Data, and Market Analysis

》Subscribe to View Historical Price Trends of SMM Metal Spot

SMM January 10

As of 11:30 today, the futures closing price was 75,270 yuan/mt, up 440 yuan/mt from the previous trading day. The average spot premiums/discounts stood at 170 yuan/mt, up 25 yuan/mt from the previous trading day. The price of secondary copper raw material rose by 300 yuan/mt MoM. The price of Guangdong bare bright copper was 68,600-68,800 yuan/mt, up 300 yuan/mt from the previous trading day. The price difference between primary metal and scrap was 2,355 yuan/mt, up 146 yuan/mt MoM. The price spread of primary and secondary copper rods was 1,605 yuan/mt. According to the SMM survey, import traders in Zhenhai, Ningbo, indicated that recent quotes for European secondary copper raw material coefficients have not pulled back despite the rise in copper prices, mainly due to tight supply. After the US suspended procurement, attention has shifted to Europe or the Middle East, prompting local suppliers to stand firm on quotes.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

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

Related News

38 mins ago

Rio Tinto Ends Takeover Talks with Glencore Again

On February 5th, Rio Tinto said it is no longer in takeover talks with Glencore after the parties failed to agree on terms that would deliver value to Rio shareholders, marking the third time such discussions have fallen apart (following failed approaches in 2014 and 2024). Glencore said the proposed structure— including Rio retaining the Chairman and CEO roles and a pro forma ownership split—significantly undervalued Glencore’s relative contribution, and therefore was not in Glencore shareholders’ interests. Following the announcement, Glencore shares fell as much as 10.8% while Rio’s London-listed shares were down around 2.6%. Reuters noted the setback echoes other stalled mega-deals in the mining sector, such as BHP’s failed bid for Anglo American.

38 mins ago

4 hours ago

SMM Chinese New Year Holiday Survey on Processing Enterprises in 2026—Enamelled Wire

As the Chinese New Year break approaches, the holiday schedules and production plans of enamelled wire enterprises have been largely finalized. SMM has surveyed multiple enamelled wire manufacturers, and the results are summarized as follows:

4 hours ago

What Are Brass Bar Enterprises' Expectations After the Chinese New Year?

[SMM Brass Billet Bar] Regarding post-holiday production resumptions, brass bar enterprises generally expect a slow recovery in market demand. In the initial phase of production resumptions, the focus will be on digesting existing inventory and fulfilling a small number of orders. Large-scale raw material procurement and production are expected to be postponed until after the Lantern Festival.

4 hours ago