Copper Industry Morning Reading on March 5, 2024
Copper concentrate: Currently, the price range for domestic ore pricing coefficients on the market is relatively large, ranging from 90% to 94%. Some miners have said that there is no spot for trading at the moment, and they believe that the pricing coefficient has reached a high level and continues to rise sharply. Not likely.
Electrolytic copper: Yesterday, the price of electrolytic copper in Tianjin market was 68730~68770 yuan/ton, the middle price was 68750 yuan/ton, and the flat water copper price was 240~200 yuan/ton. The market quotation continues to maintain a discount of 250 yuan for shipments. At the same time, the inventory of smelters is relatively high on weekends. Some companies have some moves to sell goods, but downstream interest is not high and demand performance is deviated.
The overall transaction volume in the Guangdong market yesterday was poor. The transaction premium and discount were around 50 yuan/ton, and the trading volume was small. The copper price surged higher during the day and then fell back. In the morning market, the flat copper price was quoted at 50 to 30 yuan/ton, and the spot price in the market was at a premium. Continuing to rise, traders quoted a high price of 30 yuan/ton in the morning, but there were not many transactions. Later, they lowered their quotations to 50 yuan/ton, and transactions were also very limited; in addition, social stocks continued to rise, and the downstream sentiment for entering the market was low, and new There are few new orders, and rigid purchases are maintained.
Scrap copper: Copper prices fluctuated within a narrow range, while scrap copper prices remained stable. In the morning, some merchants gathered supply at high prices in the market to deliver previous orders. Most merchants were not willing to increase prices, and the trading pace slowed down. For downstream copper plants, the current raw material prices are on the high side, and the sales of finished products are not increasing. The difference between fine and scrap is narrow, and the advantage of scrap copper is not obvious. Therefore, the quotation is mainly conservative and purchased on demand.
Copper strip: At present, the purchasing enthusiasm of terminal enterprises is still relatively average. They mainly purchase hard-to-find bargains. The purchasing volume has not increased significantly. However, the volume of goods taken by traders has increased, and the current supply in the market has basically returned to normal. For 3 and 4 Orders for the month are still relatively promising.
Copper rods: Yesterday, the transaction situation of refined copper rods in Guangdong was still skewed. Although it is a new week, the regional consumer order situation is still not ideal. Most cable companies said that there is a large inventory of finished products in the factory, and the terminal order execution efficiency is not high. The destocking speed is slow, so most cable companies still focus on long-term order execution, and the transaction volume of single orders is relatively small.
