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Scrap Copper Spot Transactions were Cautious Yesterday
2019-9-19

Sept 19 (LTIT) –On September 18, SHFE copper continued its fluctuation, with traders willing to raise prices. Part of the lower reaches of the country are more motivated to replenish their stock before the National Day. The overall market is facing various consumption expectations. However, the stock increase is limited and the strong quotation this week is difficult to change.

 

Foshan 1#bare bright copper quoted 43300-43400yuan/ton, the same as yesterday. According to institutional research, there was a slight increase in scrap copper ticket points in the market, so it was adjusted to 5.7% from the original 5.5%, and the price difference between refined scrap was slightly narrowed. Yesterday's market was more cautious about the uncertainty of macro performance. Meantime, due to the recent tightening of environmental protection restrictions on production, the upstream and downstream trading of scrap copper has been cautious for the sale or impact of copper rods in the later period.

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