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October 21 Shanghai copper spot market KuaiBao: the monthly ticket rose in the same month, and the current rise suppresses buying and exuberance.
Oct 21,2019 11:58CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 21: Shanghai electrolytic copper spot contract today rose 80 ~ 110 yuan / ton, Pingshui copper transaction price 47140 yuan / ton ~ 47220 yuan / ton, Shengshui copper transaction price 47150 yuan / ton ~ 47240 yuan / ton. The dollar fell to a new three-month low on Friday night as recent US economic data added to recent US economic data superimposed gains in sterling and the euro, with the copper market buoyed by a rebound. Copper rose sharply to 47100 yuan a tonne in Shanghai today. Due to the suspension of tax ticket system upgrade tickets on the 25th of this month, the market offered goods at a price of 90 yuan / ton to 110 yuan / ton in the morning market, but the plate was high and the rising water was on the high side. The transaction was more wait-and-see. The quotation of the holder was slightly loose. The price of good copper could be pressed to 90 yuan / ton. After 11:00, some of the holders took the initiative to lower the price to 70 yuan / ton in order to close the transaction. The price of good copper can be pressed to 90 yuan / ton, and after 11:00, some of the holders will take the initiative to lower the price to 70 yuan / ton in order to close the transaction. The quotation of wet copper is stable in the range of 40 ~ 50 yuan / ton. In today's market, the share of next month's ticket quotation in the market is also gradually increasing, with a difference of 20 yuan / ton with that month's ticket price. Copper price rise suppresses downstream market pick-up, trade also has no intention to enter the market to receive goods, the market mostly shows cautious stop, traders mostly to complete the end of this month delivery order, but the holder's willingness to bid for the current month ticket has not changed.

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