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[SMM Meridian Review] May 6 Guangdong Copper spot Market Express: trading in the spot market after the festival is relatively quiet, rising and fluctuating back down
May 6,2020 12:09CST
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Source:SMM
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SMM5, June 6: Guangdong electrolytic copper spot on the current month's contract rose 230% 240, the average price rose 30%; wet copper rose 180 ~ 190, the average price rose 30%. The average price of electrolytic copper fell 215 yuan / ton to 42865 yuan / ton, and the average price of wet copper fell 215 yuan / ton to 42815 yuan / ton. In the spot market, after the festival, Guangdong electrolytic copper stocks increased slightly, in line with market expectations; stimulated by the decline in electrolytic copper prices, today's holders generally offered to ship, but not many recipients, on the one hand, the downstream of the terminal is still digesting inventory, on the other hand, traders are cautious about Gaosheng water, do not want to receive more goods. As a result, today's rising water showed a volatile downward trend, good copper and water copper prices are down from 240 yuan / ton in early trading to 220 yuan / ton. Overall, the post-festival spot market trading is relatively quiet, rising water shock fall back.

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