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April 27 SMM Shanghai copper spot market report: the disk is rising sharply, the water is difficult to hold steady and downstream, it is difficult to stop and release the volume.
Apr 27,2020 12:18CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, April 27: Shanghai electrolytic copper spot contract today rose 130 yuan / ton ~ 170 yuan / ton, Pingshui copper transaction price 42700 yuan / ton ~ 43000 yuan / ton, Shengshui copper transaction price 42710 yuan / ton ~ 43020 yuan / ton. Shanghai copper jumped short and opened all the way higher, after the end of the long order, the holder's willingness to exchange cash increased, the market supply was abundant, the morning market quotation was still rising 150 ~ 170 yuan / ton, Pingshui copper rose 140 ~ 150 yuan / ton after a short transaction, due to the disk straight line rose to 42800 yuan / ton above, the linear increase exceeded 300yuan / ton, the transaction appeared obviously blocked, the quotation loosened down, Pingshui copper because of the abundant supply, the price can be pressed to 130 yuan / ton. Good copper has dropped to 150 ~ 160 yuan / ton, wet copper has been adjusted down with the market, and the quotation has been lowered to a low level of 90 yuan / ton since the morning market range of 100 / 110 yuan / ton. Today copper futures rose by more than 700 yuan / ton, consumption stopped, the market after last week's concentrated bargain replenishment, today more stop and watch, downstream a small number of just need, although traders are willing to receive the goods, but the quotation is still difficult to reach the desired target price, wait and see an increase. Before May Day, if the disk continues to high shock on the strong side, spot water continues to maintain a strong or difficult.

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