The circulation volume of secondary copper raw material is tight, and the procurement volume of secondary copper rod enterprises is insufficient for daily operations. [SMM Daily Review of Secondary Copper]

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SMM June 26

      At 11:30 today, the futures closing price was 78,940 yuan/mt, up 350 yuan/mt from the previous trading day. The average spot premiums/discounts were 65 yuan/mt, up 35 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 1,452 yuan/mt, up 279 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,225 yuan/mt. According to the SMM survey, despite the steady rise in copper prices, the availability of secondary copper raw material in the market has decreased. The person in charge of the secondary copper raw material yard reported that there is less and less secondary copper raw material available for sale from dismantling yards and recycling stations, resulting in limited procurement volumes of secondary copper raw material by the yard. The higher the copper prices rise, the more reluctant suppliers are to sell. Therefore, secondary copper rod enterprises have found it increasingly difficult to procure sufficient secondary copper raw material towards the end of the week, and in some regions, they cannot even procure secondary copper raw material even with price increases.