The enterprise's output value task is reduced, and the enthusiasm for raw material procurement declines [SMM Daily Review of Secondary Copper]

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SMM July 7

      At 11:30 today, the futures closing price was 79,710 yuan/mt, down 710 yuan/mt from the previous trading day. The average spot premiums/discounts were 95 yuan/mt, down 20 yuan/mt from the previous trading day. Today, the price of secondary copper raw material decreased by 500 yuan/mt MoM. The price of bare bright copper in Guangdong was 73,500-73,700 yuan/mt, down 500 yuan/mt from the previous trading day. The price difference between copper cathode and copper scrap was 1,507 yuan/mt, down 198 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,060 yuan/mt. According to the SMM survey, as we enter H2, many secondary copper rod enterprises have almost achieved their expected output value targets. Therefore, they will not be too active in raw material procurement in the future and will appropriately reduce the number of operating days.