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July 19 Shanghai copper spot market KuaiBao
Jul 19,2019 12:09CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 19-Today Shanghai electrolytic copper spot to the current month contract discount 20 yuan / ton to liter water 70 yuan / ton, flat water copper transaction price 47540 yuan / ton ~ 47740 yuan / ton, rising water copper transaction price 47600 yuan / ton ~ 47780 yuan / ton. Overnight, the chairman of the New York Federal Reserve pushed forward the expectation of cutting interest rates. The US dollar fell below the 97 mark, Shanghai copper jumped nearly 1,000 yuan to 47600 yuan per line, and early morning stockholders quoted 20 to 70 yuan per ton. Copper futures gradually rose in fear of high sentiment, curbing market transactions, spot buying was weak, the holder took the initiative to cut prices, and flat copper took the lead. In July, there was a discount quotation for the first time, and the good copper price dropped to 50 yuan to 60 yuan per ton of rising water. The second section of the trading period, in the shipping difficult to change the pressure of the environment, the holder's willingness to further improve, continue to lower the quotation, flat copper price discount 20 yuan / ton still have pressure price space, good copper as low as 40 yuan / ton, downstream transaction is weak, wet copper following the market price down to 60 yuan / ton discount to 30 yuan / ton. Short-term capital promotion is obvious, copper prices show a strong trend, but the spot market is afraid of high sentiment, traders speculation cautious, downstream actual consumption is bleak, strong and weak characteristics are obvious.

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