Overseas prices remain firm, leaving imported traders at a loss [SMM Daily Review of Secondary Copper]

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SMM June 6

      At 11:30 today, the futures closing price was 78,760 yuan/mt, up 510 yuan/mt from the previous trading day. The average spot premiums/discounts were 75 yuan/mt, down 15 yuan/mt from the previous trading day. Today, the price of secondary copper raw material rose by 300 yuan/mt MoM. The price of bare bright copper in Guangdong was 72,700-72,900 yuan/mt, up 300 yuan/mt from the previous trading day. The price difference between copper cathode and copper scrap was 1,388 yuan/mt, up 176 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,120 yuan/mt. According to the SMM survey, overseas suppliers of secondary copper raw material reported that although the price coefficient of secondary copper raw material in the US pulled back this week, the prices offered by local suppliers in Europe remained firm. It is expected that the price of secondary copper raw material in Europe will remain stable for a period of time.