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April 28 SMM Shanghai copper spot market report: before the festival, the supply of goods poured out of rising water and squeezed back down.
Apr 28,2020 11:52CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, April 28: Shanghai electrolytic copper spot contract today rose 110 yuan / ton ~ 150 yuan / ton, Pingshui copper transaction price 42370 yuan / ton ~ 42550 yuan / ton, Shengshui copper transaction price 42380 yuan / ton ~ 42560 yuan / ton. The copper in Shanghai period increased to 42400 yuan / ton, and the import of copper into the market increased within the week. Most of the holders were eager to speed up the exchange before the May Day holiday. The morning market quotation rose 130 ~ 150 yuan / ton, with few responders. The holder took the initiative to adjust and reduce the water, the quotation rose 120 ~ 130 yuan / ton, and the transaction was still difficult to attract until the good copper was adjusted to 120 yuan / ton, and Pingshui copper rose to 110 yuan / ton. The market only picked up when the market closed. Individual importers lead the sale of wet copper, the price is 70% 80 yuan / ton and there is still room for price reduction. Due to the lack of actual purchase support of downstream consumption, trade flow also tends to stop the cautious state before the festival, the holder shipments actively, the transaction continues to be weak, the characteristic of supply exceeding demand appears gradually.

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