Affected by the continuous decline in the market, the price of copper scrap fell with it

The refined waste price spread reached a peak of 2,000 yuan / ton in early August, and then fell steadily, this week due to the continuous sharp decline in the plate, the supply of scrap copper in the off-season became more and more tight, but the price of the finished bright rod has been relative to the spot price has a premium, resulting in difficulty in further price space, refined copper substitution effect enhanced, with scrap manufacturers in the breakeven line and successively into the loss, so although scrap copper has been in short supply, but there is no room to raise prices, in Thursday panic "crash" period performance is the
。

It is understood that the reason for the shortage of supply is, first, the new production capacity of copper rod factories continues to be put into steady operation, especially in Jiangxi, the current annual production capacity of bright rods in China has exceeded 7 million tons, and the demand for copper scrap is steadily increasing; Second, August itself belongs to the off-season of scrap copper supply, from Foshan Dali market a monthly average trade volume of 4,000 tons of large households feedback, the recent import of copper inflow is small, the supply of mainland sources has declined significantly, according to the daily bright copper circulation of Dali market of 1,000 tons to estimate, in recent days a total of less than 200 tons, less than one-fifth of the average, copper mills around the world cash withdrawal is also difficult to meet their daily purchases; A similar situation occurred in the Linyi Metal City market
.
Combined point of view, on Thursday and Friday, Guangdong copper mills have stopped harvesting, and even some enterprises have stopped selling, based on the return of the refined waste price difference, the current fine scrap copper rod has arbitrage space of more than 1,000 yuan per ton
.