SMM July 28
At 11:30 today, the futures closing price was 104,990 yuan/mt, down 240 yuan/mt from the previous trading day. The average spot premium was 275 yuan/mt, down 5 yuan/mt DoD. Today, copper scrap prices remained flat DoD. The copper scrap sales sentiment index fell to 2.52, and the purchase sentiment index fell to 2.15. The price difference between copper cathode and copper scrap was 3,873 yuan/mt, down 240 yuan/mt DoD. The price difference between copper cathode rod and secondary copper rod was 1,080 yuan/mt. According to the SMM survey, copper prices saw a slight correction. As premiums remained high, copper scrap traders faced increasing difficulty selling, and many secondary copper rod enterprises were unwilling to purchase when premiums were high. Copper scrap market trading was mediocre during the day.
