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SMM April 1
Today's futures closing price at 11:30 was 80,060 yuan/mt, down 100 yuan/mt from the previous trading day. The average spot premiums/discounts were 10 yuan/mt, down 5 yuan/mt from the previous trading day. Today, the price of secondary copper raw materials remained unchanged MoM. The price of bare bright copper in Guangdong was 73,800-74,000 yuan/mt, unchanged from the previous trading day. The price difference between copper cathode and copper scrap was 1,453 yuan/mt, up 95 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 1,140 yuan/mt. According to the SMM survey, as copper prices rebounded, secondary copper rod enterprises reported normal raw material procurement during the day. If copper prices continue to rise, suppliers may hold back sales again in anticipation of further price increases.
