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October 22 Shanghai copper spot market KuaiBao: copper price is high superimposed tax bill problem, spot pressure increases
Oct 22,2019 11:59CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 22: Shanghai electrolytic copper spot contract today rose 60 ~ 100 yuan / ton, Pingshui copper transaction price 47140 yuan / ton ~ 47180 yuan / ton, Shengshui copper transaction price 47160 yuan / ton ~ 47200 yuan / ton. The copper of Shanghai period fluctuated along a narrow range of 47100 yuan / ton. Because on the 25th of this month, involving the suspension of the tax ticket system upgrade ticket, there is still a willingness to raise the price of the monthly ticket, the morning market quotation rose by 80 ~ 100 yuan / ton, but the spot market purchase is still weak, and the holder was forced to lower the quotation price by 70% to 90%, and the transaction is still more on the sidelines. Section II trading stage, transaction blocked, the holder once again took the initiative to lower the offer, good copper quotation as low as 80 yuan / ton, Pingshui copper generally adjusted to 60 yuan / ton, wet copper concentrated quotation in the rising water 30 ~ 50 yuan / ton. The quotation of next month ticket accounts for a larger proportion in the market, with the difference between the ticket price of the current month and the ticket price of 20% 30 yuan / ton. Copper prices are high, superimposed supply is sufficient, buying is weak, the market is afraid of high sentiment, traders speculate cautiously, downstream actual consumption is weak. The share of monthly tickets will further increase tomorrow and next year, and the SMM quotation space will be enlarged.

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