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Market wire in Nanhai metal scraps market in the morning
2019-12-31
Dec 31 (LTIT) –The end of 2019 is basically over, and the partial profit of the New Year's holiday funds before the new year is coming will keep the copper price down slightly, that is, monthly copper price will return to above 49000, while LME copper will continue to fluctuate at 6200 US dollars for the time being without much change, while spot market transactions will be relatively flat due to the pressure of settlement cycle and wait-and-see mentality. The new year is approaching. A slight easing of capital and a widening price difference between electricity and waste are good for recycled copper. However, the shutdown of some factories also affects demand. Whether a large amount of stock preparation operations before the Lunar New Year will depend on the support of the subsequent copper price. However, the news and data of Sino-US trade are both positive, and the subsequent trend is expected to oscillate but still slightly stronger.
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