echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > Market trading began to pick up, and copper scrap market volatility intensified

    Market trading began to pick up, and copper scrap market volatility intensified

    • Last Update: 2022-12-23
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    This month, Shanghai copper as a whole first fell and then rose, fell all the way in the middle and early months, began to rebound and rebounded in the second half of the month, and the shock was weak throughout the month
    .
    As of today's close, the main 2110 contract of Shanghai copper closed at 69090 yuan / ton
    .
    Spot copper fell by 2,300 yuan / ton compared with last Friday, scrap copper fell by about 1,300 yuan / ton, and the difference between fine scrap and the end of last month fell by 1,000 yuan, and the current difference is about
    800 yuan / ton.

    Copper scrap

    In the middle and first half of this month, due to the continuous sharp decline in the plate, the supply of scrap copper in the off-season has become more and more tight, but the price of the finished bright rod has risen relative to the spot price, resulting in the difficulty of further price improvement, the substitution effect of refined copper is enhanced, and the scrap manufacturers are at the break-even line and have entered the loss one after another, so although the supply of scrap copper has exceeded demand
    .
    Due to the intensification of market volatility, downstream copper companies have been significantly warming up their willingness to raise prices and grab goods since this week, on the one hand, the refined waste price difference has returned to stability, on the other hand, the supply of raw materials is tight and continues
    .

    As the market continued to rebound, the market trading atmosphere improved slightly in the off-season
    .
    It is understood that the surrounding areas of Xiong'an this month, affected by the strict control and management of Xiong'an, have affected transportation, and the arrival of scrap copper has decreased
    significantly.
    And superimposed on the market fluctuation factors, the upstream source end of the price drop does not ship, with the rise of copper prices in the second half of the year, the situation has eased
    .

    A new batch of central environmental inspections will soon be launched again, this time in five provinces, including Guangdong, Shandong, Hubei, Jilin and Sichuan, and some concentrated markets in the inspection areas have been closed for business
    .
    It is understood that environmental protection supervision has little impact on local copper factories in Hubei, due to the tight supply of raw materials, it is difficult to increase the operating rate, and most of the inventory can only maintain daily production needs, and copper factories are in a high position
    compared with other regions under the high price.

    According to market news, this month, the merger and reorganization of Gezhouba Group was passed, and a copper rod enterprise in Zhejiang was affected by this and suspended production for a period of time, and production has resumed now
    .
    A copper factory in Jiangxi Province stopped production for about a week in the second half of the year due to poor orders and large inventories of finished products, and has resumed production
    .

    In terms of the epidemic, in the middle and early half of the year, Henan's epidemic prevention and blockade policy was strengthened, and the blockade in some areas of Changge had a small impact on the supply of scrap copper, and the whole city of Zhengzhou implemented closed-loop management, suspended passenger lines, and strictly prohibited all kinds of agglomeration activities
    .
    The closure of many high-speed ports in Jiangsu has a great impact on cargo transportation, among which Nanjing and Yangzhou are more serious, and many freight yards are closed and rested
    .
    By the end of this month, various places were gradually unblocked, and market trading began to pick up
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.