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SMM April 23
Today's futures closing price at 11:30 was 77,960 yuan/mt, up 880 yuan/mt from the previous trading day. The average spot premiums/discounts were 185 yuan/mt, up 5 yuan/mt from the previous trading day. Today, the price of secondary copper raw material rose 700 yuan/mt MoM. The price of bare bright copper in Guangdong was 71,800-72,000 yuan/mt, up 700 yuan/mt MoM from the previous trading day. The price difference between copper cathode and copper scrap was 1,656 yuan/mt, up 141 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,095 yuan/mt. According to the SMM survey, secondary copper rod enterprises indicated that some regions have completed the payment of 2% assessed tax, but it has not been unified nationwide. Therefore, enterprises that have paid taxes may consider briefly observing how other provinces implement the relevant policies and resume production after the market becomes clearer.
