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Review on the spot Trading Day of scrap Copper on July 18
Jul 18,2019 19:05CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 18 News:

Today, the main 1909 contract of Shanghai Copper opened at 46840 yuan / ton in the morning. Today, the spot of electrolytic copper in Shanghai reported a water rise of 20 yuan per ton to 80 yuan per ton of water for the current month. Shanghai copper concussion center of gravity slightly moved down to 46700 yuan / ton line. Spot market performance continued to stalemate, buying in general, the market maintained yesterday's price rose 20 to 80 yuan / ton. Flat water copper is not willing to lower the shipment, the price is more than 20 yuan / ton, if the market has a low price source is still favored by traders, good copper quotation tends to stabilize, the transaction is concentrated in the rising water 70 to 80 yuan / ton, downstream still maintain rigid demand, wet copper maintain discount 40 ~ 20 yuan / ton quotation. The price of good copper tends to be stable, the transaction is concentrated in the rising water 70 yuan / ton, the downstream still maintains the rigid demand, the wet process copper maintains the discount 40 ~ the discount 20 yuan / ton quotation. The market has the willingness to accept goods at a lower price, but the holder's willingness to hold the price is clear, the disk performance gives back some of the early increases, the trend is not clear for the time being, the quotation continues to show a stalemate, the supply and demand sides are divided, and the performance is in the middle of a stalemate.

Guangdong No. 1 bright copper quoted price of 42700 yuan / ton ~ 43000 yuan / ton, down 100 yuan / ton compared with yesterday, refined waste price difference of 1675 yuan / ton. Recently, the price fluctuation of copper and scrap copper in Shanghai is relatively small, and the willingness of scrap copper holders to ship goods is stronger than that of last month, but the downstream consumption is poor, the transaction of scrap copper market is light, and the downstream is dominated by rigid demand procurement. We are now waiting for the announcement of the third batch of approval documents restricting the import of scrap copper.

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