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[SMM midday review] May 11 Guangdong copper spot market express: rising water continues to decline downstream receiving desire is low, market transaction is in the doldrums
May 11,2020 11:55CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 11: today, the spot price of electrolytic copper in Guangdong province rose 180% to 180%, the average price fell 55%; the average price of wet copper rose 140% to 150%, the average price fell 40%. The average price of electrolytic copper rose 515 yuan / ton to 44200 yuan / ton, and the average price of wet copper rose 530 yuan / ton to 44165 yuan / ton. In the spot market, although inventories are still falling today, the decline is significantly weaker than before, and absolute prices continue to rise, coupled with a widening monthly spread. Stimulated by many factors, the holder took the initiative to reduce the price of shipments. In morning trading, the price of good copper and water copper was down 30 yuan / ton from last Friday, and by 10:15 it continued to drop 20 yuan / ton to 180 yuan / tonne, and further fell to 160 yuan / tonne around 11:00. In the face of the continued decline in the rising water, today's consignees generally hold a wait-and-see attitude, purchasing desire is not strong. Overall, the rising water continues to decline today, the downstream desire to receive goods is low, the market transaction is in the doldrums, we expect the rising water to continue to decline tomorrow.

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