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SMM January 20
The futures closed at 75,670 yuan/mt at 11:30 today, up 270 yuan/mt from the previous trading day. The average spot premiums/discounts stood at -5 yuan/mt, down 70 yuan/mt from the previous trading day. The price of secondary copper raw material remained unchanged MoM today. The price of Guangdong bare bright copper was 68,400-68,600 yuan/mt, unchanged MoM from the previous trading day. The price difference between primary metal and scrap was 2,793 yuan/mt, up 200 yuan/mt MoM. The price difference between primary metal and secondary copper rod was 1,270 yuan/mt. According to the SMM survey, secondary copper rod plants indicated that most logistics would stop starting tomorrow, and raw material procurement or customer shipments would be postponed until after the holiday.
