Copper Prices Pull Back, Suppliers Face Difficulties in Purchasing [SMM Secondary Copper Daily Review]

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SMM June 19

      At 11:30 today, the futures closing price was 78,510 yuan/mt, up 180 yuan/mt from the previous trading day. The average spot premiums/discounts were 145 yuan/mt, down 35 yuan/mt from the previous trading day. Today, the price of secondary copper raw material remained unchanged MoM. The price of bare bright copper in Guangdong was 72,800-73,000 yuan/mt, unchanged from the previous trading day. The price difference between copper cathode and copper scrap was 1,102 yuan/mt, down 175 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,175 yuan/mt. According to the SMM survey, suppliers of secondary copper raw material indicated that as the week drew to a close, copper prices pulled back, and upstream suppliers were reluctant to sell. Currently, the inventory of suppliers of secondary copper raw material decreased by 30% YoY.