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October 24 Shanghai copper spot market KuaiBao: copper prices rise to curb consumption spot buying is insufficient to lower to flat water
Oct 24,2019 12:11CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 24: Shanghai electrolytic copper spot contract for the current month quoted flat water ~ 50 yuan / ton, flat water copper transaction price 47300 yuan / ton ~ 47350 yuan / ton, Shengshui copper transaction price 47330 yuan / ton ~ 47380 yuan / ton. Overnight crude oil soared, superimposed a number of Chilean copper mines joined the strike activities, Shanghai copper was led by two positive signals to 47300 yuan / ton, an increase of more than 300 yuan / ton. Copper prices are high to curb market buying sentiment, and today is the last monthly ticket trading day before the tax ticket upgrade, this month's long order has also basically ended, morning market holders quoted 30-60 yuan / ton. However, due to no response, the twinkling of an eye decreased to a good copper rising water of about 40 yuan / ton, flat water copper rising water of 10 ~ 20 yuan / ton, the transaction has improved. In the second quarter of the trading period, eager to cash holders to lower the price again, flat copper low to flat water near, good copper was forced to rise to 30 yuan / ton to slow down, wet copper followed by the downward offer of 20 yuan / ton ~ flat water. Before the upgrading of tax tickets, most of the monthly tickets in the market today were mainly traded on monthly tickets, and individual monthly tickets still maintained a price difference of nearly 30 yuan / ton with next month's tickets. Copper prices rose, curbing downstream pick-up, traders ample inventory, resulting in the overall market demand performance is light.

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