Secondary Copper Rod Enterprises' Inventory Cleared, Actively Purchasing Secondary Copper Raw Material [SMM Secondary Copper Daily Review]

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SMM March 13

      The futures closed at 11:30 today at 79,400 yuan/mt, up 310 yuan/mt from the previous trading day. The average spot premiums/discounts stood at 15 yuan/mt, up 5 yuan/mt from the previous trading day. The price of secondary copper raw material rose by 800 yuan/mt MoM today. The price of Guangdong bare bright copper was 72,700-72,900 yuan/mt, up 800 yuan/mt from the previous trading day. The price difference between primary metal and scrap was 1,968 yuan/mt, down 536 yuan/mt MoM. The price difference between primary and secondary copper rods was 1,535 yuan/mt. According to the SMM survey, copper prices continued to rise, and with the price difference between primary metal and scrap remaining high, traders' willingness to pick up goods was significantly stimulated. Some secondary copper rod enterprises reported that their finished product inventories were almost depleted. Moving forward, they plan to purchase more secondary copper raw materials for production to replenish finished product inventories.