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[SMM Meridian Review] May 8 Guangdong Copper spot Market Express: traders see that the reception of goods in the future market is not positive, and the rising water in the day is again high and low.
May 8,2020 11:47CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5, March 8: Guangdong electrolytic copper spot on the current month contract rose 230% 240, the average price fell 5; wet copper rose 180 ~ 190, the average price fell 10. The average price of electrolytic copper rose 550yuan / ton to 43685 yuan / ton, and the average price of wet copper rose 545yuan / ton to 43635 yuan / ton. Spot market, Guangdong inventory continues to decline, the holder is willing to offer goods, but the receiver is limited, the rising water again shows the situation of high opening and low going. In addition, the market is worried that imports of copper will increase in the future, which is also an important reason for the weakening of the rising water. Overall, trading in Guangdong today is general, rising water within the day is high and low to go, transactions are mainly concentrated in the downstream just need to replenish, traders are not active in receiving goods. The price of good copper dropped from 250 yuan / ton to 230 yuan / ton, that of Pingshui copper from 250 yuan / ton to 210 yuan / ton, and that of wet copper goods from 190 yuan / ton to 180 yuan / ton.

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