Inventory buildup of finished products, secondary copper rod enterprises may temporarily suspend production [SMM Daily Review of Secondary Copper]

》View SMM copper quotes, data, and market analysis

》Subscribe to view historical price trends of SMM metal spot cargo

SMM June 18

      Today at 11:30, the futures closing price was 78,650 yuan/mt, up 180 yuan/mt from the previous trading day. The average spot premiums/discounts were 180 yuan/mt, down 60 yuan/mt from the previous trading day. Today, the price of secondary copper raw material rose by 100 yuan/mt MoM. The price of bare bright copper in Guangdong was 72,800-73,000 yuan/mt, up 100 yuan/mt from the previous trading day. The price difference between copper cathode and copper scrap was 1,277 yuan/mt, up 14 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,245 yuan/mt. According to the SMM survey, due to the fluctuating trend of copper prices, the demand from terminal wire and cable enterprises has pulled back again. Some wire and cable enterprises reported poor sales orders. With an increase in finished product inventories, they may temporarily suspend production.