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October 29 Shanghai copper spot market KuaiBao: copper cross plate finishing, spot supply and demand sawing
Oct 29,2019 11:46CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, Oct. 29: Shanghai electrolytic copper spot contract for the current month is quoted as flat water ~ 20 yuan / ton, flat water copper transaction price 47320 yuan / ton ~ 47360 yuan / ton, Shengshui copper transaction price 47330 yuan / ton ~ 47370 yuan / ton. Shanghai copper shock in the first line of 47300 yuan / ton. The holder quite rises the water mood is still in, the market inquiry enthusiasm is high, the morning market quotation flat water ~ rises the water 20 yuan / ton. There is little difference between the quotation and yesterday, but the transaction holds the wait-and-see situation, a small amount of flat water copper can press the price, the flat water copper depresses the price to the discount 10 yuan / ton transaction performance is better, but soon is closed, the latter quotation maintains in the flat water ~ lifts the water 10 yuan / ton, the good copper may press the price space is not big, maintains stable in the rising water 10 ~ 20 yuan / ton range; Copper futures prices are still high, downstream to maintain on-demand procurement, wet copper to maintain stability in yesterday's discount 40 ~ 30 yuan / ton. The accumulated inventory after National Day is gradually digested. Since last week, the import window has been closed, and the import loss has reached about 400 yuan this week. The overall supply of the market will not be too loose in the near future. Traders intend to discount the goods at a low price, but due to the holder's reluctance to sell goods, the willingness to change lines is low, but it is difficult to lift the water space at the end of the month, resulting in difficult prices to get rid of the zipper state. The volume of goods received today is still hesitant, but the holder is also reluctant to lower the price of rising water, trading performance is average, today's market performance of supply and demand stalemate zipsaw characteristics.

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