Copper Prices Stabilized Before the Year-End, Scrap Utilisation Enterprises Anticipate Long-Term Copper Prices [SMM Secondary Copper Daily Review]

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SMM January 27

      The futures closing price at 11:30 today was 75,410 yuan/mt, up 50 yuan/mt from the previous trading day. The average spot premiums/discounts stood at -45 yuan/mt, up 15 yuan/mt from the previous trading day. The price of secondary copper raw material remained unchanged MoM today. The price of Guangdong bare bright copper was 68,200-68,400 yuan/mt, also unchanged MoM from the previous trading day. The price difference between primary metal and scrap was 2,705 yuan/mt, up 65 yuan/mt MoM. The price spread of primary and secondary copper rods was 1,020 yuan/mt. According to the SMM survey, there were almost no transactions in the market, and enterprises indicated that copper prices remained around 75,000 yuan/mt before the holiday, with a potential upward trend expected after the holiday.