》View SMM Copper Quotes, Data, and Market Analysis
》Subscribe to View Historical Price Trends of SMM Metal Spot
SMM January 2
The futures closing price at 11:30 today was 73,380 yuan/mt, down 320 yuan/mt from the previous trading day. The average spot premiums/discounts were 95 yuan/mt, up 115 yuan/mt from the previous trading day. The price of secondary copper raw material dropped by 600 yuan/mt MoM today. The price of bare bright copper in Guangdong was 67,600-67,800 yuan/mt, down 600 yuan/mt from the previous trading day. The price difference between primary metal and scrap was 1,347 yuan/mt, up 433 yuan/mt MoM. The price spread between primary and secondary copper rods was 645 yuan/mt. According to the SMM survey, there was a significant difference in quotations between cargo yards and secondary copper rod plants today. The bare bright copper quotation at cargo yards was 66,800 yuan/mt, while the procurement quotation for bare bright copper at secondary copper rod plants was 67,600-67,800 yuan/mt. According to the SMM survey, the bare bright copper purchase price at Foshan Dali cargo yard was approximately 67,200-67,400 yuan/mt today. As the policy has just been implemented, the market still needs time to react, and raw material prices are expected to fluctuate to varying degrees in the short term. SMM will continue to monitor raw material price changes across regions.
