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[SMM Review] Guangdong Copper spot Market Express on April 9: near delivery, the atmosphere of rising water in the market has declined.
Apr 9,2020 11:50CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM4 9: Guangdong electrolytic copper spot for the current month contract up 90% 100, wet copper reported 40 ~ 50 liters. The average price of electrolytic copper rose 410 yuan / ton to 41025 yuan / ton, and the average price of wet copper rose 405 yuan / ton to 40975 yuan / ton. In the spot market, although the rate of increase in arrivals to the warehouse slowed, but the holder still insisted on high water delivery in early trading, flat water copper quoted for 90 yuan / ton, good copper offer for 110 yuan / ton. By 10:10 or so, the market situation changed abruptly, and affected by the sharp drop in rising water in Shanghai, large traders in Guangdong also began to ship a large number of goods, especially warehouse receipts thick board goods, the price was directly reduced from 110 yuan / ton to 90 yuan / ton, and the price of flat water copper also dropped slightly to 80 yuan / ton. In addition, the mainstream transaction price of wet copper today is 40 yuan / ton. Overall, as delivery approaches, the atmosphere of rising water in the market has declined, and it is expected that rising water will fluctuate and fall in the future.

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