SMM

SMM October 24 At 11:30 today, the futures closing price was 76,640 yuan/mt, down 190 yuan/mt from the previous trading day. The average spot premiums/discounts were -70 yuan/mt, down 5 yuan/mt WoW from the previous trading day. Today, the price of secondary copper raw materials remained unchanged MoM. The price of bare bright copper in Guangdong was 70,800-71,000 yuan/mt, unchanged from the previous trading day. The price difference between primary metal and scrap was 1,144 yuan/mt, down 295 yuan/mt MoM. The price difference between copper cathode rod and secondary copper rod was 735 yuan/mt. According to the SMM survey, the Ministry of Commerce and five other departments jointly issued the "Announcement on Matters Related to Regulating the Import Management of Secondary Brass Raw Materials, Secondary Copper Raw Materials, and Secondary Cast Aluminum Alloy Raw Materials." The attached table stipulates that different types of imported secondary copper and aluminum raw materials are not allowed to be mixed in the same shipment, and different types of secondary copper and aluminum raw materials cannot be declared under the same customs declaration form during customs clearance. Bulk secondary copper and aluminum raw materials of different categories are not allowed to be mixed. However, when secondary copper and aluminum raw materials of different categories are independently packaged, they can be mixed but must be placed in separate categories. The regulations will be implemented from November 15, 2024.
[Reprinted with source retained - SMM] Six Departments Jointly Issue New Document on Scrap Imports, Expanding Categories of Scrap Imports [SMM Daily Review of Secondary Copper] https://hq.smm.cn/copper/content/103006903