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[SMM Meridian Review] Guangdong Copper spot Market Express on April 20: inventory returned over the weekend did not increase but fell sharply, and it was difficult to find a single item in the market.
Apr 20,2020 12:06CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM4 20: Guangdong electrolytic copper spot on the current month contract rose 190 ~ 200, the average price rose 10; wet copper rose 150 ~ 160, the average price rose 30. The average price of electrolytic copper rose 115 yuan / ton to 42600 yuan / ton, and the average price of wet copper rose 135 yuan / ton to 42560 yuan / ton. In the spot market, the return inventory did not increase over the weekend, but continued to decline substantially. The Guangdong spot market continued the recent shortage situation. The holders generally offered goods at a high price, and there were not many holders with a first-hand source of goods. Therefore, the offer was made very late today, and the price is also higher. Pingshui copper in early trading has reported 190 yuan / ton, and later rose to 200 yuan / ton, even so the market is still difficult to find. Fortunately, as the rising water rose, a large number of warehouse receipts began to flow into the market, but because warehouse receipts are basically thick flat boards are very few, therefore, today's good copper prices did not follow the sharp rise in flat copper prices, but maintained last Friday's level of 200210 yuan / ton. Wet copper due to tight supply, today's offer of about 160 yuan / ton compared with last Friday up 30 yuan / ton. We expect that the shortage in Guangdong will still be difficult to alleviate effectively in the short term, and it is expected that the rising water will remain high before May 1.

 

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