Price: According to news on November 16, the price of copper strip in the domestic market yesterday increased by 170 yuan/ton, and the price of brass strip increased by 170 yuan/ton. The quoted price of T2 copper strip was 71080-72080 yuan/ton, and the price of H62 brass strip was 71080-72080 yuan/ton. The offer price is 52,710-54,510 yuan/ton.
Transactions: Yesterday, an A copper plate and strip company in Shandong said that market transaction performance was still not satisfactory. At present, copper prices continue to strengthen, and its order volume is relatively small. The downstream only maintains rigid purchases, and transactions are relatively small; a B copper plate and strip company in Hubei said that market orders are basically basic. Mainly with rigid demand transactions, copper prices rose sharply during the day, and the enthusiasm of downstream companies in purchasing was frustrated. Market transactions only revolved around the demand generated by the delivery of rigid demand orders, and the transactions were weak; a C copper plate and strip company in Zhejiang stated that the spot price of copper plate and strips continued. As prices rise, the market is mainly on the sidelines, with purchases based on rigid needs being the mainstream and few transactions.
Forecast: Copper prices rose sharply yesterday. The overall price focus of copper strips has recently shifted upwards. Downstream purchasing enthusiasm is not high, and rigid demand transactions are the main focus. It is expected that the spot price of copper strips may continue to rise today.
