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Since the Spring Festival, copper prices have skyrocketed, scrap copper prices have risen, and the few tons of scrap copper that could not be sold before the Spring Festival were sold out
in an instant two days ago.
Baichuan Yingfu provided data showing that since February 3, the price of copper scrap has risen
rapidly.
Taking copper as an example, the price rose from 50,700 yuan per ton on February 3 to 58,600 yuan per ton on February 24, an increase of 15.
58%.
Especially since February 17, the price of copper has entered an accelerated rise period, rising by 10.
76%
in just 7 days.
Small recycling enterprises resumed work late, scrap copper supplementation limited to maintain tension, low oxygen rod enterprises face the difficulty of supplementing raw materials and sales, except for a short period of good sales before the copper price at the beginning of the week, basically with the oxygen-free rod to maintain a discount of more than 1600 yuan
.
The market is showing a singular picture of tight supply, but the price discount is also very high
.
From experience, the comprehensive and large discount structure in China often means that it is difficult for copper prices to rise, and there is obvious spot downward pressure
.
But on the other hand, the demand of most downstream industries was good a few years ago, and the order scheduling was significantly better than the same period of previous years, so the actual terminal was still good, but it was temporarily unable to accept the high price
.
However, due to the epidemic and high prices before the holiday, the overall stock volume of enterprises was low, and the inventory was quickly digested, and the replenishment demand was strong
.
Therefore, the price pullback will be supported
by consumer buying.
