Comment on the spot Trading Day of scrap Copper on April 25

SMM April 25: Shanghai Copper main 1906 contract morning market opened at 49240 yuan / ton. Copper rose to 49300 yuan per ton in Shanghai yesterday as the people's Bank of China twice implemented medium-term lending to facilitate (TMLF) operations this year, boosting market confidence and turning red on non-ferrous metals. Spot promotion paste water today daily discount 50-liter water 60 yuan / ton. The market supply is abundant, and the holder's willingness to cash out is strong. From 60 to 70 yuan per ton of good copper in the morning market, it has quickly dropped to about 40 yuan per ton of water. In order to strive to close the transaction, the flat copper holder has taken the initiative to quickly reduce the discount from 20 to 50 yuan per ton. Wet copper paste around 100 yuan, the transaction only slightly improved. Although the market inquiry has always been enthusiastic, the transaction is difficult to see warmth in the competition for price reduction. A small amount of rigid demand continues downstream and enters the market cautiously. Traders are not optimistic about the near future market and spot prices, and the discount reduction before May Day will become a trend. There is no willingness to receive goods before the speculation festival.