Affected by severe weather, the Ningbo port temporarily suspended customs clearance operations. [SMM Secondary Copper Daily Review]

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SMM March 27

      Today's futures closing price at 11:30 was 81,730 yuan/mt, down 130 yuan/mt from the previous trading day. The average spot premiums/discounts were -30 yuan/mt, down 10 yuan/mt from the previous trading day. Today, the price of secondary copper raw material decreased by 500 yuan/mt MoM. The price of bare bright copper in Guangdong was 74,400-75,600 yuan/mt, down 500 yuan/mt from the previous trading day. The price difference between copper cathode and copper scrap was 2,445 yuan/mt, up 392 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,665 yuan/mt. According to the SMM survey, due to severe weather, Ningbo Port was temporarily shut down for 36 hours. Local import traders reported that due to fog and heavy rain, arriving vessels were unable to unload normally or were delayed in arrival. However, it is expected that the severe weather will not last long, and the port is expected to return to normal the day after tomorrow.