卓创资讯: As the traditional holiday approaches, activity in the scrap copper market decreases

Recently, copper prices have been trading at high levels with sideways movement, and the fluctuation range of scrap copper prices has narrowed, with daily volatility reduced to about 300 yuan/ton. As of February 11, the spot price of scrap copper is 88,500 yuan/ton, up 24.46% year-on-year and up 0.11% month-on-month. From the production perspective across various regions this week, there are signs of slight increased output at the end of the year in Hubei, Henan, and other areas, resulting in a slower-than-expected decline in overall operating rates. Meanwhile, Jiangxi, Sichuan, Hebei, and other regions have adjusted their production schedules in advance due to poor downstream consumption at the end of the year. Currently, scrap copper processing still yields profits, but uncertainties in finance and taxation, along with sharp fluctuations in copper prices, have suppressed scrap copper procurement prices as companies hold onto inventories during the holiday season. It is expected that next week, scrap copper prices will fluctuate at high levels, with the bright copper trading range between 88,000 and 90,000 yuan/ton, and an average price of 89,000 yuan/ton. (Zhuo Chuang Information)