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May 18th SMM Guangdong Copper spot Market Express: rising Water suppresses Market activity after the change of month
May 18,2020 11:50CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 18: today, the spot price of electrolytic copper in Guangdong province rose 180 to 200 against the contract for that month, with an average price increase of 110 percent; wet copper rose 130 percent to 140 percent, with an average price increase of 100 percent. The average price of electrolytic copper is 43285 yuan / ton down 95 yuan / ton, and the average price of wet-process copper is 43230 yuan / ton / ton. In the spot market, the monthly difference after the change is still large, so the market does not ship goods at a low price because of a sharp increase in inventories over the weekend, but at a high price. Overall, today's market transaction price is stable at 190 yuan / ton for good copper, 190 yuan / ton for flat copper, and 140 yuan / ton for wet copper; but the delivery is not active and the trading activity is general. As far as we know, the operating rate of the copper bar industry has declined recently, and the imported copper will still be cleared one after another. therefore, we expect that the rising water will not continue to rise substantially in the future, and the expected shock is more likely to fall.

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