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Quick report on the spot market of copper in North China on the 8th of SMM5
May 8,2020 18:22CST
The content below was translated by Tencent automatically for reference.

SMM, May 8: the current contract of electrolytic copper in North China today rose by 190 yuan / ton to 250 yuan / ton, with a transaction price of 43640 yuan / ton to 43900 yuan / ton. From the first day after the festival (May 6), the resumption of toll collection on the expressway, the increase in the transportation cost of goods from Shanghai to Tianjin, also prompted the spot quotation to rise in Tianjin, the smelter raised the discount quotation sharply, the water rose more than 300 yuan / ton, the responders were less, the market was difficult to conclude the actual transaction, the traders adjusted the price to 200 ~ 250 yuan / ton, and the average price of the discount water increased by 20 yuan / ton compared with that before the festival. After the festival, Shanghai copper rebounded strongly, after rushing 42700 yuan / ton on the first day after the festival, it continued to rise to more than 43700 yuan / ton on Friday, rising by more than 1,000 yuan. Copper futures rose to restrain downstream buying, and there was a long single source of goods in the lower reaches after the festival. Production raw materials are still short-term enough; as a result, the overall trading pattern of the Tianjin market is weak.

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