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SMM12, June 6: today's Shanghai Copper main 2001 contract opened in the morning market of 47250 yuan / ton, Shanghai electrolytic copper spot contract rose 140 ~ 180 yuan / ton today. The center of gravity of copper in Shanghai period rose to maintain stability in the first line of 47200 yuan / ton. Spot market, yesterday afternoon has opened the situation of rapid exchange of high water, this morning the holder tentatively quoted in the rising water 170 ~ 180 yuan / ton, but in exchange for is eager to gush out of the supply and the willingness to exchange, the market has no willingness to accept the goods, so the market opened the downward model, Pingshui copper all the way down to 140 yuan / ton still has room to depress prices, good copper down to 150 to 160 yuan / ton, no one to trade, the market will open the downward model, Pingshui copper all the way down to 140 yuan / ton still has room to press prices, good copper down to 150 yuan / ton to 160 yuan / ton, no one to trade. Wet method with the market down to 60 ~ 80 yuan / ton. Copper futures remained on the strong side, downstream buying was suppressed, the speculative activity of the trade market this week basically came to an end, rising water and then difficult to rush again, it is inevitable that high levels will fall back, but inventories will still be in a state of decline, and they will face delivery next week. Therefore, even if the rising water is lowered, it will be limited, but it is difficult to arouse the speculative enthusiasm of traders again in the process of giving up the increase.

Guangliang copper in Guangdong quoted 43500 yuan / ton ~ 43800 yuan / ton, up 100 yuan / ton from yesterday, and the price difference between fine waste and waste is 939 yuan / ton. Total imports from January to October 2019 totaled 1.33 million tons, down from 1.97 million tons in the same period in 2018, but import tastes rose sharply, from 52 per cent last year to 80 per cent this year. As a result, metal tons still increased by nearly 80, 000 tons in the first 10 months compared with the same period last year. However, the import approval volume fell sharply from November to December, and the supply of copper scrap was obviously scarce at the end of the year, and the resistance to the decline was enhanced.

(SMM Mu Yaojuan)

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