Different warehouse replenishment actions lead to different trading areas for copper rods
[Passenger Car Association: Pickup truck market sales in January 2024 were 44,000 units]
Information: According to data from the Passenger Car Association, the pickup truck market sold 44,000 units in January 2024, a year-on-year increase of 44% and a month-on-month decrease of 8%, which was at a high level in the past five years.
Summary: Today, the price of refined copper rods is mainly concentrated at 69,130-69,530 yuan/ton, and the price of recycled copper rods is mainly concentrated at 68,300-68,700 yuan/ton. In terms of refined copper rods, the market trading performance is divided. In East China, as copper prices continue to decline, downstream companies are more motivated to replenish stocks at low prices, and market trading has rebounded significantly. However, the markets in North and South China are still in the recovery period, and terminal responses are still relatively mediocre. Most of them mainly buy goods for urgent needs. In terms of recycled copper rods, market transactions are acceptable. With the decline in copper prices, downstream purchasing enthusiasm has rebounded slightly, and demand has picked up slightly. Transactions are mainly concentrated in low-priced supply and some rigid purchase orders. Copper rod traders have an advantage in quotations today, and shipments Willingness is higher.
Forecast: 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. It may take 1-2 weeks for market consumption to fully return to normal levels after the holiday.
-Refined copper rod market-
East China: Market transactions rebounded month-on-month, copper prices continued to decline, there were more inquiries in the morning, and production and consumption were superimposed. The downstream companies were more motivated to replenish stocks at low prices, and the market transaction heat picked up more obviously. Judging from the specific transactions in the morning, small and medium-sized copper rod companies The order volume is 500-1,000 tons, and the transaction volume of large copper rod companies is more than 1,000 tons.
North China: Market transactions were weak. Although copper prices fell slightly overnight, their impact on market consumption was limited. The market is still in the recovery period, and terminal companies are gradually resuming work. Copper rod companies in the region reported that post-holiday market consumption was less than expected, and the performance of new orders received today was not satisfactory. Currently, they are mainly delivering pre-holiday orders and supplying long-term orders.
South China: The market performance remains weak, and copper prices continue to decline. Even if the price premium and discount for Guangdong electrolytic copper is lowered, the market terminal response is still relatively flat, and the buying interest of regional downstream companies still fails to return to the normal state; specifically, due to market consumption It has not fully recovered, especially cable companies are not very enthusiastic about buying goods. Therefore, even if the price of finished copper rods has been reduced during the day, there are still not many orders, and most of them are just needed purchases. At the same time, the progress of long-term unilateral delivery is also slow. Due to the slowdown, the single transaction volume of most copper rod companies and traders is around a hundred tons, and even some large companies only have a transaction volume of about 200 tons.
