Copper prices fluctuate at lows on contract rollover delivery day, suppliers refuse to budge on prices when selling [SMM Secondary Copper Daily Review]

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SMM July 15

      At 11:30 today, the futures closing price was 77,750 yuan/mt, down 780 yuan/mt from the previous trading day. The average spot premiums/discounts were 135 yuan/mt, up 155 yuan/mt from the previous trading day. Today, the price of secondary copper raw material decreased by 300 yuan/mt MoM. The price of bare bright copper in Guangdong was 72,600-72,800 yuan/mt, down 300 yuan/mt from the previous trading day. The price difference between copper cathode and copper scrap was 545 yuan/mt, down 305 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 370 yuan/mt. According to the SMM survey, copper prices fluctuated at lows, coupled with the futures delivery day, resulting in mediocre trading in the secondary copper raw material market. Suppliers' refusal to budge on prices led to a further narrowing of the price difference between copper cathode and copper scrap.