Overseas suppliers refuse to budge on prices when shipping goods, making it difficult for import traders to close deals. [SMM Secondary Copper Daily Review]

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SMM June 23

      At 11:30 today, the futures closing price was 78,270 yuan/mt, up 130 yuan/mt from the previous trading day. The average spot premiums/discounts were 90 yuan/mt, down 30 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 72,600-72,800 yuan/mt, unchanged from the previous trading day. The price difference between copper cathode and copper scrap was 1,020 yuan/mt, up 100 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 875 yuan/mt. According to the SMM survey, import traders reported that due to the volatile decline in overseas copper prices, overseas suppliers refused to budge on prices amid tight supply. However, the discount coefficient has been at a relatively high level since June, making it difficult for domestic import traders to secure deals for secondary copper raw material overseas.