[SMM midday review] April 24 Guangdong copper spot market express: near the weekend plus big customers to sell goods today is not as good as yesterday

Published: Apr 24, 2020 11:56

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SMM4 24: Guangdong electrolytic copper spot on the current month contract rose 270 ~ 270, the average price fell 5; wet copper rose 220 ~ 230, flat. The average price of electrolytic copper rose 140yuan / ton to 42220 yuan / ton, and the average price of wet copper rose 145yuan / ton to 42175 yuan / ton. In the spot market, affected by a large number of warehouse receipts from large customers, the rising water continued to decline within the day; in early trading, the holders continued the momentum of yesterday's offer, with both Pingshui copper and good copper quoted at 290300 yuan / ton. However, with the large number of shipments, rising water continued to decline, warehouse receipts good copper quotation also continued to drop from 300 yuan / ton to 240 yuan / ton at 11:00; however, due to the shortage of copper supply down by a small margin, from 300 yuan / ton to 260 yuan / ton; wet copper shortage quotation is strong at 230 yuan / ton. Overall, the approach of the weekend plus large sales, today's transaction is not as good as yesterday.

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