The scrap copper market is cautious in purchasing and there is a strong wait-and-see mood

Copper prices rose first and then subsided this week, and rushed to a new high
this month on Thursday.
Since last Friday, spot copper premiums have soared to a decade high due to serious low inventories at home and abroad
.
High premium water affects downstream buying enthusiasm, electrolytic copper consumption is less than expected, orders for refined copper rods have also been greatly reduced, the advantages of recycled rods continue to expand, and the profits of recycled copper enterprises have increased, and orders have increased
compared with before.

On November 26, spot electrolytic copper in the Shanghai market reported 71565 yuan / ton (good copper), down 770 yuan / ton, good copper premium 230 yuan / ton, bright copper down 300 yuan / ton from the previous day, intraday fine waste difference of 2062 yuan / ton, expansion of 324 yuan / ton
.

South China quoted 1# bright copper 64900-65100 yuan / ton, copper prices reached a peak after continuous rise, and fell
sharply within the day.
Holders quoted more positively in the morning, shipped more in the past few days, and mainly replenished inventory in recent days
.
Downstream waste processing enterprises have generally performed their finished product orders, and the recent raw material inventory has been sufficient, so they are cautious in purchasing and have a strong wait-and-see mood
.
It is understood that Henan Xinxiang is affected by environmental protection control, scrap copper processing enterprises have stopped work and production, the demand for scrap copper raw materials has declined, and the circulation of goods in this place mostly flows to surrounding provinces and cities
.

Copper prices have climbed all the way, and the bullish sentiment of holders has increased, but downstream scrap copper enterprises are cautious in receiving goods, mainly because cable orders have not kept pace
.
Under the condition that scrap copper manufacturers have reduced prices, it is more difficult to pick up goods in centralized markets in various places
.
Shanghai copper pulled back sharply on Friday, ending a five-game winning streak, but copper prices are still at a high level
.
It was learned that in some areas during the week, especially in the north, quotations were relatively scarce, and the enthusiasm for buying goods decreased
sharply.