SMM July 15
At 11:30 today, the futures closing price was 105,020 yuan/mt, up 710 yuan/mt from the previous trading day. The average spot premium was 0 yuan/mt, down 155 yuan/mt MoM. Today, secondary copper raw material prices rose 500 yuan/mt MoM. The sales sentiment index for secondary copper raw materials rose to 2.48, and the purchasing sentiment index rose to 2.31. The price difference between copper cathode and copper scrap was 3,176 yuan/mt, down 4 yuan/mt MoM, and the price difference between copper cathode rod and secondary copper rod was 1,510 yuan/mt. According to the SMM survey, copper prices retreated after a rapid rise. During the morning session, suppliers of secondary copper raw materials actively made shipments, while secondary copper rod enterprises were also willing to purchase. As the circulation of secondary copper raw materials in the market increased significantly, many secondary copper rod enterprises had already procured sufficient raw materials during the morning session and stopped quoting prices by the close of the afternoon session.
