Copper prices rise, orders for secondary copper rod enterprises recover [SMM Daily Review of Secondary Copper]

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SMM June 25

      At 11:30 today, the futures closing price was 78,590 yuan/mt, up 190 yuan/mt from the previous trading day. The average spot premiums/discounts were 30 yuan/mt, down 10 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 72,700-72,900 yuan/mt, up 100 yuan/mt from the previous trading day. The price difference between copper cathode and copper scrap was 1,173 yuan/mt, up 73 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,135 yuan/mt. According to the SMM survey, as copper prices rebounded, the price difference between copper cathode rod and secondary copper rod widened somewhat. Secondary copper rod enterprises reported that orders had recovered, but due to continued sales losses, they did not take too many orders.