Information: On November 27, the electrolytic copper spot inventory in the domestic market was 65,800 tons, an increase of 6,000 tons from the 20th, and a decrease of 1,500 tons from the 23rd; Shanghai inventory was 51,500 tons, an increase of 3,700 tons from the 20th, and a decrease from the 23rd. 04,400 tons; Guangdong inventory was 7,200 tons, a decrease of 0,300 tons from the 20th, and an increase of 1,300 tons from the 23rd. Jiangsu inventory was 2,600 tons, an increase of 0,600 tons from the 20th, and an increase of 0,600 tons from the 23rd. Domestic inventories fell again, with increases in all regions except Shanghai. Specifically, downstream consumption performance picked up at the end of last week, and the arrival of goods in the Shanghai market decreased, resulting in a decrease in inventory.
Summary: Today, the price of refined copper rods is mainly concentrated at 69010-69490 yuan/ton, and the price of recycled copper rods is mainly concentrated at 67700-68100 yuan/ton. In terms of refined copper rods, the overall market performance is average. The current high spot price is still an important factor inhibiting downstream consumption. The market trading atmosphere is average. Large cable companies are slightly more willing to restock, while small and medium-sized cable companies still mainly purchase rigid needs. In terms of recycled copper rods, the market transaction performance remains light. The current price of recycled copper rods is relatively high, and the downstream sentiment is high. Some manufacturers will make subsequent price adjustments. The overall market performance of low-priced supply is good; however, many companies are limited by raw material procurement. Price, the space for price reduction is limited, and the willingness to ship in the afternoon has decreased.
Forecast: Copper prices have fluctuated at high levels recently, and on-demand purchasing is expected to remain dominant in the short term.
-Refined copper rod market-
East China: The market transaction performance is average. The current high spot price is still an important factor inhibiting downstream consumption. The market trading atmosphere is average. Large cable companies are slightly more willing to replenish their stocks. The overall transaction volume is relatively concentrated. Small and medium-sized cable companies are still purchasing based on rigid needs. Lord. Judging from the specific transactions this morning, the order volume of large enterprises was about 800 tons, and the order volume of small and medium-sized enterprises was 300-500 tons. The transaction volume increased slightly from the previous month.
North China: Market trading activity is sluggish. As spot premiums for electric copper have rebounded again, processing fees have risen in the region. Copper prices have risen slightly again. Against the backdrop of rising processing fees and copper prices, downstream wire and cable companies are not enthusiastic about replenishing their inventories. Stock replenishment is maintained on demand, and the volume of new orders in the market is lower than normal levels. The trading volume reported by medium and large copper rod companies in the region remains at around 500 tons.
South China: The overall market performance is average. Although electrolytic copper in Guangdong has been slightly reduced, it is still at a relatively high level. At the same time, copper prices have strengthened during the day. Affected by high water premiums and high copper prices, the progress of single orders in the market is very slow; from the specific transactions Look, the market quotations during the day are still slightly chaotic. The price difference between high and low processing fees has reached 300 yuan/ton. High-priced supply sources are basically uninterested. However, even for some low-priced supply sources, transaction negotiations are also difficult. Buyers and sellers are in a stalemate. Most copper rod companies The actual single transaction volume of traders is mostly within 200 tons, and long-term orders that just need to be replenished are still the mainstream of market transactions.
-Recycled copper rod market-
North China: The market quotations are mostly 67,900-68,000 yuan/ton, which is 250-350 yuan/ton lower than the market price. The price difference of refined scrap copper rods has slightly widened. However, after the midday quotation, there were not many inquiries in the market, and there was little transaction feedback. At the same time, due to the weakening of external copper prices, the bearish and wait-and-see sentiment of end customers increased, so the overall transaction volume in the market today was very limited. Most copper rod companies reported sporadic transactions. During the day, a certain copper The factory reported that 2 vehicles were sold at 67,900 yuan/ton.
East China: The market quotation is mostly 67,700-68,000 yuan/ton, which is 560-260 yuan/ton lower than the market price, and the difference between fine and waste rods has expanded slightly; today's transaction performance of recycled rods in Jiangxi is relatively average, because the price difference advantage has not been significantly expanded. Even though some companies with low-price supply continue to lower their fixed prices in order to promote transactions, the downstream wait-and-see attitude is still strong, and the actual orders placed are relatively few. As of press time, the transaction volume of most copper rod companies is less than 200 tons, and some The company even recorded a trading volume of less than 100 tons.
South China: The market quotations are mostly 67950-68050 yuan/ton, which is 310-210 yuan/ton lower than the market price. The regional spread has widened; today’s market transaction atmosphere is very deserted. At the beginning of the noon trading period, there are many Several copper rod companies and traders quoted a unified fixed price, but the market response was very dull. Even after some low-priced supplies flowed into the market, the market transaction enthusiasm remained unchanged. Only a small number of companies with old customers who just needed to buy goods registered. The trading volume is about 200 tons, while the trading volume of most copper rod companies and traders is only about 100 tons.
-Raw material market-
Electrolytic Copper - Shanghai Market: The spot transaction price of No. 1 electrolytic copper in the Shanghai market was 68,800 yuan/ton, an increase of 135 yuan/ton from the previous trading day. The market's mainstream quotations for good copper rose by 530 to 550 yuan/ton, the same as the previous trading day; flat water copper rose by 500 to 530 yuan/ton, an increase of 20 yuan/ton from the previous trading day; wet copper rose by 400 to 400 yuan/ton. 440 yuan/ton, an increase of 30 yuan/ton from the previous trading day.
Electrolytic Copper - Guangdong Market: As of 11:00 a.m. on November 27, the middle price of No. 1 electrolytic copper in the Foshan market was 68,840 yuan/ton, an increase of 20 yuan/ton from the previous trading day; the price of good copper increased by 600 yuan/ton. It fell by 80 yuan/ton from the previous trading day. The price of Pingshui copper rose by 580 yuan/ton, which was down by 80 yuan/ton from the previous trading day.
Recycled copper: Copper prices rose from low levels, and the trading atmosphere was calm. The quotations of upstream traders did not show any significant follow-up, and the transactions were mostly bulk goods. In addition, the earlier orders were basically delivered. Amid the volatile copper prices, there was a lack of motivation to stock up. On the one hand, the raw material inventory of downstream copper plants has returned to the safe production line. On the other hand, orders for finished products have not improved, which has led to a slight sigh of relief in procurement. In addition, the price difference between refined waste and waste has widened. The business focus of the company is on the sale of finished products and mainly on collecting funds.
