Electrolytic Copper
On November 19th, according to Mysteel's research on 56 domestic electrolytic copper trading enterprises (including smelters, traders, and downstream processing enterprises), the spot trading volume of electrolytic copper reached 33,000 tons, up 0.31 tons from the previous trading day and a month-on-month increase of 10.50%. Copper prices stabilized with intraday fluctuations, and downstream companies maintained a sentiment of buying on dips. In addition, limited supply of certain brands in the market contributed to an increase in premium performance. Overall, downstream enterprises' demand for receiving goods rebounded, while market circulation remained constrained, leading to a steady rise in spot premiums. Looking ahead, despite the potential outflow of delivery warehouse receipts to supplement supply, downstream consumption is expected to gain some support as the weekend approaches. The spot premium is projected to remain around 150 yuan/ton.
Recycled Copper
Market quotations for recycled copper fluctuated slightly yesterday. Upstream traders adopted a strong wait-and-see stance, particularly for high-quality materials with significant price volatility, leading to cautious purchasing behavior. Moreover, unclear policies in certain regions caused copper plants to lower their quotations, resulting in a lack of clear price references and mixed views on future market trends. A sharp reduction in procurement by downstream copper plants, coupled with rising raw material costs and a rapidly narrowing price gap between refined and scrap copper, has continued to squeeze profits for processing enterprises and restrained procurement demand.
Copper Rod
According to Mysteel's survey of 31 domestic copper rod producers (including refined and recycled copper rod enterprises, with a total annual capacity of 6.01 million tons) and 6 traders, the daily order volume for copper rods was 10,300 tons, down 10,100 tons from the previous trading day and a decrease of 49.56% month-on-month. Orders for refined copper rods totaled 8,200 tons, a decrease of 10,300 tons from the previous day and down 55.64% month-on-month. Orders for recycled copper rods reached 0.2 million tons, an increase of 0.02 million tons from the previous session, up 12.56% month-on-month.
In the refined copper rod segment, supply and demand nationwide remained in a cautious standoff, with transaction patterns showing regional adjustments as copper prices fluctuated and previous orders were replenished.
In the recycled copper rod segment, overall market performance was flat, lacking significant driving factors. Although the price gap between refined and scrap rods widened, downstream companies found current prices still above their psychological expectations, leading to limited enthusiasm in pricing and procurement.
Industry Equipment Linkage
Against the backdrop of fluctuating copper material markets, the demand for copper and aluminum machinery such as the enamelling machine for copper wire and oxygen-free copper rod line remains closely tied to downstream capacity utilization and product refinement requirements. Equipment procurement and technological upgrades are expected to align with the recovery in spot premiums and the stabilization of copper rod orders, supporting overall industry capacity optimization.