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April 29 SMM Shanghai Copper spot Market Express: the last two trading days before May Day are light and difficult to make a difference.
Apr 29,2020 11:45CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, April 29: Shanghai electrolytic copper spot contract today rose 110 yuan / ton ~ 140 yuan / ton, Pingshui copper transaction price 42780 yuan / ton ~ 42850 yuan / ton, Shengshui copper transaction price 42790 yuan / ton ~ 42860 yuan / ton. Shanghai copper low open high moved up to 42700 yuan / ton. The rebound on the disk has led to the eagerness of the holder to change cash. The opening quotation has been quickly reduced from 140 yuan / ton to 110 yuan / ton, and the actual transaction in the market is concentrated in 110 to 130 yuan / ton. there is almost no price difference between brands. Downstream continues to maintain immediate demand, centralized buyers have been significantly reduced, there are still some importers actively ship part of the low-end import of copper, wet copper slightly lower quotation up 60 ~ 80 yuan / ton. Copper futures performance on the strong side, in 42000 yuan / ton above shock finishing, holders near the water near 42000 yuan has no intention to continue to reduce prices, so the lower source of flat water copper supply has been few people out, traders based on pre-festival risk aversion factors, few receiving groups, and the festival period is still expected to have a large number of imported copper to the warehouse, so the final trading time before May Day will be more obvious, risk aversion will be the main body of trading guidance.

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