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May 6 SMM Shanghai copper spot market report: after the festival to lift the water up traders low water replenishment transactions
May 6,2020 12:07CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM, May 6: Shanghai electrolytic copper spot contract today rose 130 yuan / ton ~ 160 yuan / ton, Pingshui copper transaction price 42750 yuan / ton ~ 42890 yuan / ton, Shengshui copper transaction price 42760 yuan / ton ~ 42900 yuan / ton. Shanghai copper opened low after the opening of the market, the first day after the festival holders quoted actively, the price in the morning market slightly up to 130 ~ 140 yuan / ton, low prices to attract traders to accept goods, transactions can be done, then flat copper up to 140 yuan / ton, good copper 150 ~ 160 yuan / ton, up into a stalemate after the transaction, downstream after the delivery of goods to maintain a state of need, wet copper quotation deadlock in about 100 yuan. Today's overall transaction is general, most of the morning market consignees are some large traders, mainly for their post-festival low inventory state of the appropriate replenishment, the holder is not willing to sell at a low price, the supply and demand sides show the characteristics of wait-and-see saw on the first day after the festival.

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