[SMM midday review] April 27 Guangdong Copper spot Market Express:

Published: Apr 27, 2020 11:50

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SMM4, March 27: Guangdong electrolytic copper spot on the current month contract up 290 ~ 300, the average price up 25; wet copper quoted water 240 ~ 250, the average price up 20. The average price of electrolytic copper rose 735 yuan / ton to 42955 yuan / ton, and the average price of wet copper rose 730 yuan / ton to 42905 yuan / ton. In the spot market, stocks in Guangdong continued to fall sharply over the weekend, which spurred the holders to insist on high water shipments. The morning quotation was generally about 30 yuan / ton higher than on Friday, but as the copper price rose sharply, the mood of receiving goods downstream declined, and the holder slightly lowered the quotation for shipments. By about 11:00, the transaction price of good copper and water copper was 290300 yuan / ton. Wet copper supplies continue to be tight, trading at about 250 yuan / ton today. Overall, due to copper prices and rising water are higher, the downstream desire to receive goods is low, the market trading is general.

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