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April 29 scrap copper daily review: high clearance before May Day, scrap copper transaction is relatively active
Apr 29,2020 17:04CST
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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.

Guangdong Guang Guangliang copper quoted 39800 yuan / ton ~ 40100 yuan / ton, up 100 yuan / ton compared with the previous trading day, fine waste price difference is 275 yuan / ton, the ticket point is calculated as 6.1%. May Day holiday is coming, scrap copper merchants actively clean up inventory before the festival, profit-taking, downstream manufacturers procurement is easier than early, transactions are relatively active. The overall supply and demand of scrap copper is still tight, imported scrap copper is out of stock, and it is not expected to increase until mid-and late May.

(information Supervision and feedback: SMM Xinyong 021-51595820)

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