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SMM February 6
The futures closed at 76,190 yuan/mt at 11:30 today, up 950 yuan/mt from the previous trading day. The average spot premiums/discounts stood at 10 yuan/mt, down 20 yuan/mt from the previous trading day. The price of secondary copper raw material rose by 700 yuan/mt MoM today. The price of Guangdong bare bright copper was 68,900-69,100 yuan/mt, up 700 yuan/mt MoM from the previous trading day. The price difference between primary metal and scrap was 2,796 yuan/mt, up 186 yuan/mt MoM. The price spread between primary and secondary copper rods was 1,220 yuan/mt. According to the SMM survey, copper prices rose significantly today, and secondary copper rod enterprises had limited order intake, with today's shipments mainly fulfilling pre-holiday orders.
