[SMM Review] February 28 Guangdong Copper spot Market Express: futures prices fell sharply, but consumption is still sluggish, spot rising water passively higher

Published: Feb 28, 2020 11:49

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SMM February 28: Guangdong electrolytic copper spot to the current month contract 190 ~ 170, wet copper discount 260 ~ 250. The average price of electrolytic copper fell 430 yuan / ton to 44705 yuan / ton, and the average price of wet copper fell 430 yuan / ton to 44630 yuan / ton. Spot market, futures prices fell sharply, holders generally offered shipment, early trading Pingshui copper discount 200 yuan / ton, low price supply was quickly short, prices continue to rise, around 10:00 market mainstream transaction price in-190 yuan / ton, some holders even quoted-180 yuan / ton, but the consignee is more cautious about the high price source of goods. Good copper and wet copper followed slightly higher, but trading volume was small. Overall, the downstream recovery is slow, under the pressure of high inventories, rising water can only rise passively, it is difficult to continue to rise rapidly.

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