[SMM Review] Guangdong Copper spot Market Express on April 7: copper prices have stopped falling and rebounded today, and the trading atmosphere in the market is significantly better than yesterday.

Published: Apr 7, 2020 11:53

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SMM4, March 7: Guangdong electrolytic copper spot on the current month contract up 90% 110, wet copper reported 50 ~ 60%. The average price of electrolytic copper rose 1105 yuan / ton to 40800 yuan / ton, and the average price of wet copper rose 1120 yuan / ton to 40755 yuan / ton. In the spot market, stocks in Guangdong continued to decline after the festival, and the holders ignored the sharp rise in futures prices and insisted on high water shipments, but the market acceptance was low and there were no transactions; coupled with the influx of a large number of warehouse receipts into the market, the spot market showed a situation of oversupply, and the holders had to cut down the rising water delivery, but the transaction was still general after the price adjustment. Overall, futures prices rose sharply today, the market afraid of high trading atmosphere is quiet. Good copper was reduced from 120 yuan / ton to 100 yuan / ton, Pingshui copper was reduced from 110 yuan / ton to 90 yuan / ton, and the price of wet copper remained basically unchanged at about 60 yuan / ton due to tight supply.

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