Rising copper prices fail to drive an increase in the supply of secondary copper raw material. Overseas suppliers maintain the quotation coefficient from last week. [SMM Daily Review of Secondary Copper]

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June 27, SMM

      At 11:30 today, the futures closing price was 79,940 yuan/mt, up 1,000 yuan/mt from the previous trading day. The average spot premiums/discounts were 110 yuan/mt, up 45 yuan/mt from the previous trading day. Today, the price of secondary copper raw material increased by 500 yuan/mt MoM. The price of bare bright copper in Guangdong was 73,300-73,500 yuan/mt, up 500 yuan/mt from the previous trading day. The price difference between copper cathode and copper scrap was 1,965 yuan/mt, up 513 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,410 yuan/mt. According to the SMM survey, copper prices rose rapidly, but due to no increase in the overseas supply of secondary copper raw material, suppliers did not lower their quotation coefficients. This week, the quotation coefficients of European suppliers of secondary copper raw material remained unchanged WoW.