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This week, copper prices continued to rise as a whole to continue to benefit the scrap copper industry, but the Dragon Boat Festival is coming, superimposed quarterly settlement, scrap copper merchants have risk aversion and financial pressure, pre-holiday shipment willingness is quite strong, and downstream in the case of raw material inventory has been relatively safe, further reserve scrap copper, backlog of funds willingness is not high, therefore, the recent market circulation of scrap copper supply is sufficient
.
In addition to the rise in copper prices, the weak price of scrap copper is also one of the factors that rapidly widen the price difference between refined scrap, close to the high level
in recent years.
The huge price difference of fine waste widens so that scrap copper rod enterprises deduct costs and meet a certain profit level, there is still a large room for price adjustment and low-price promotion
.
This week, the scrap copper rod in Jiangxi area deducted about 750-850 from the Shanghai copper contract in the month, even if the copper used in the downstream wire and cable industry slowed down compared with May, both fine copper rod and scrap copper rod orders have weakened, but very cheap scrap copper rod, still favored downstream, the overall order is still relatively good
.
Fine copper rod consumption continues to be affected by the low price of scrap copper rod, the overall processing fee quotation has downward pressure, and Guangdong region, electrolytic copper spot due to the continuous decline in social inventory, the premium was pulled up to more than 400 yuan / ton, greatly squeezed the profit margin of fine copper rod, in the order and profit have been reduced, Guangdong some fine copper rod factories have begun to close part of the production capacity
.
