Review on the spot Trading Day of scrap Copper on April 12-Shanghai Metals Market

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Review on the spot Trading Day of scrap Copper on April 12

Translation 03:59:44PM Apr 12, 2019 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM April 12: Shanghai Copper main 1905 contract morning market opened at 49090 yuan / ton. Overnight US data showed a bright US dollar rally of 97 marks, basic metals under pressure correction, Shanghai copper fell sharply to below 49000 yuan / ton, copper today around 49000 yuan / ton line finishing. Spot rising water this daily water 30-150 yuan / ton. At the beginning of the day, the holder intended to push up the price, and the quotation was 50 to 160 yuan / ton, but the market atmosphere was not positive enough, the downstream consumption was not as expected, and some of the holders no longer insisted on taking the initiative to relax the price. The flat water copper transaction upsurge began with a water rise of 30 yuan per ton. Good copper starts from 130 to 140 yuan / ton, traders accept the goods at a lower price, and wet copper is stable at 60 yuan / ton to 40 yuan / ton. Although copper futures have declined, but the overall buying is not as expected, spot discount basically maintained yesterday's level, the characteristics of the spot market stalemate is still obvious.

Key Words:  Daily review  regeneration 

Review on the spot Trading Day of scrap Copper on April 12

Translation 03:59:44PM Apr 12, 2019 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM April 12: Shanghai Copper main 1905 contract morning market opened at 49090 yuan / ton. Overnight US data showed a bright US dollar rally of 97 marks, basic metals under pressure correction, Shanghai copper fell sharply to below 49000 yuan / ton, copper today around 49000 yuan / ton line finishing. Spot rising water this daily water 30-150 yuan / ton. At the beginning of the day, the holder intended to push up the price, and the quotation was 50 to 160 yuan / ton, but the market atmosphere was not positive enough, the downstream consumption was not as expected, and some of the holders no longer insisted on taking the initiative to relax the price. The flat water copper transaction upsurge began with a water rise of 30 yuan per ton. Good copper starts from 130 to 140 yuan / ton, traders accept the goods at a lower price, and wet copper is stable at 60 yuan / ton to 40 yuan / ton. Although copper futures have declined, but the overall buying is not as expected, spot discount basically maintained yesterday's level, the characteristics of the spot market stalemate is still obvious.

Key Words:  Daily review  regeneration