Copper rod orders in North China continue to be light, and the market mainly picks up goods
On February 23, the processing fee for 8mmT1 wire and cable poles in the North China market was quoted at 520-550 yuan/ton, the same as the previous day's price; recycled copper poles were delivered at 68,700-68,800 yuan/ton, an increase of 100 yuan/ton from the previous day's price.
Transaction: In the refined copper rod market, copper prices have increased again, and the market's wait-and-see sentiment has significantly increased. Copper rod companies reported that downstream customers' price sentiments are still not high today. The remaining orders from the early stage have basically been shipped, and the market is still in the recovery stage; cable companies The construction progress is slow, so the actual demand for goods is not good. Today's overall orders continued to be weak from the previous day.
In the recycled copper rod market, most supply prices in the spot market continue to rise, which has greatly inhibited the willingness of downstream customers and copper rod traders to purchase goods. However, the mainstream transactions are still characterized by traders taking goods and the purchasers are relatively concentrated, and the average daily orders continue. The transaction volume is less than 100 tons.
Sentiment: The trading market has restarted, and demand from most downstream companies has increased slowly. Copper rod manufacturers have also resumed production at a relatively average pace, and the actual market orders are slightly insufficient.
Prediction: As downstream companies return to the market one after another this week, the popularity of copper rod trading will gradually increase. It is expected that downstream companies will mainly pick up goods this week.
