Review on the spot Trading Day of scrap Copper on July 25

SMM, July 25 / PRNewswire-Asianet /-

Today, the main 1909 contract of Shanghai Copper opened at 47110 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported a rise of 10 yuan per ton to 60 yuan per ton of water for the current month. Shanghai copper continues to wander around 47000 yuan / ton shock. The market basically maintained yesterday's quotation, flat water copper quotation tends to stabilize in the rising water 10 to 20 yuan / ton range, traders are interested in buying near Pingshui, if there is a low price source can still attract traders to buy, good copper due to difficult price space delivery is still hesitant, some of the lower price to good copper liter water 40 yuan / ton; downstream enterprises to maintain rigid demand, wet copper yesterday to maintain a discount of 50 to 30 yuan / ton. Today, the long order trading is basically nearing the end, and there is no significant fluctuation on the last day, and the spot price is basically flat. Today, the trading volume of the whole market is general, and the transaction is still in a stalemate. After the end of the long order, it may be difficult to maintain a comprehensive rise.

Guangdong No. 1 bright copper quoted price of 42900 yuan / ton ~ 43200 yuan / ton, the same as yesterday, refined waste price difference of 1694 yuan / ton. Today's copper low stable operation, the afternoon announced that China and the United States will resume trade negotiations in Shanghai at the end of the month, heard that LME copper rose slightly. The Fed's interest rate cut at the end of the month also gave some support to prices in the near future; at the same time, it was announced in the afternoon that China and the United States would resume trade talks in Shanghai at the end of the month. LME copper rose slightly.

At present, the scrap enterprises that have received the approval have started six types of import operations, but the market generally believes that the import cost has increased; the upstream scrap copper holders are still in a strong mood when the supply of goods is tight, and the scrap enterprises that have not received the approval are waiting for the third batch of approval to be issued to alleviate the current situation of the price in the near future.