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SMM June 11
At 11:30 today, the futures closing price was 79,300 yuan/mt, up 80 yuan/mt from the previous trading day. The average spot premiums/discounts were 95 yuan/mt, up 10 yuan/mt from the previous trading day. Today, the price of secondary copper raw material remained unchanged MoM. The price of bare bright copper in Guangdong was 73,000-73,200 yuan/mt, unchanged from the previous trading day. The price difference between copper cathode and copper scrap was 1,629 yuan/mt, up 90 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,550 yuan/mt. According to the SMM survey, as the price difference between copper cathode and copper scrap continued to widen, the price difference between copper cathode rod and secondary copper rod expanded to 1,550 yuan/mt. Secondary copper rod enterprises reported that the order placement situation of both terminal wire and cable enterprises and traders had improved. Secondary copper rod enterprises estimated that the operating rate of secondary copper rod would rebound significantly MoM this week.
