Overseas suppliers of secondary copper raw material refuse to budge on prices when shipping goods, while domestic traders gradually accept the high prices [SMM Daily Review of Secondary Copper]

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SMM, May 16

      At 11:30 today, the futures closing price was 78,350 yuan/mt, down 210 yuan/mt from the previous trading day. The average spot premiums/discounts were 445 yuan/mt, up 425 yuan/mt from the previous trading day. Today, the price of secondary copper raw materials remained unchanged MoM. The price of bare bright copper in Guangdong was 72,400-72,600 yuan/mt, unchanged from the previous trading day. The price difference between copper cathode and copper scrap was 1,667 yuan/mt, up 215 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,245 yuan/mt. According to the SMM survey, secondary copper raw material import traders indicated that they had gradually adapted to high-coefficient overseas quotes, such as for bare bright copper prices. Previously, traders could not accept overseas supplier quotes of 99.2%-99.5%. However, this week, traders reported that after the import window opened, they could appropriately purchase some bare bright copper with a 99.2% coefficient. Although the profit was minimal, it could ensure the normal operation of enterprise transactions.