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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 10,2020 12:27CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM4, March 10: Guangdong electrolytic copper spot on the current month contract reported water 90% 100, wet copper reported water 40 ~ 50. The average price of electrolytic copper fell 70 yuan per ton to 40955 yuan per ton, and the average price of wet copper fell 70 yuan per ton to 40905 yuan per ton. In the spot market, stimulated by the fact that Guangdong went to the warehouse (at present, Guangdong's inventory has dropped to 74400 tons, which is lower than the same period last year), Guangdong's rising water did not fall with the fall in Shanghai today, and the trading price basically remained at yesterday's level, that is, 100 yuan / ton of good copper and 90 yuan / ton of flat water copper. Wet copper prices rose slightly by 10 yuan / ton to 50 yuan / ton due to tight supply. In addition, as delivery approaches, warehouse receipt demand has been reduced than before, some of the choice of re-delivery, which will ease the pressure on supply. Overall, consumption in Guangdong has been good recently, and it is difficult to see a sharp decline in rising water.

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