May 19th SMM Guangdong Copper spot Market Express: Gao Shengshui suppresses trading, and today's transaction is relatively quiet.

Published: May 19, 2020 11:38

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SMM5 March 19: today, the spot price of electrolytic copper in Guangdong province rose 200: 220 to that month's contract, with an average price increase of 20 percent; wet copper rose 160 to 170, with an average price increase of 30 percent. The average price of electrolytic copper is 44120 yuan / ton, and the average price of wet copper is 44075 yuan / ton. In the spot market, inventories in Guangdong fell again today after a brief increase, coupled with the continued rise in Shanghai, which made the shippers generally bid up, and the rising water showed a concussive upward trend in the day. Flat copper still had a small offer of RMB190 / ton in early trading, but it soon sold out, and then the rising water gradually rose. By around 11:00, good copper had risen to 220,230 yuan per ton, and leveling copper had risen to 200pm 210yuan / ton. Wet-process copper also rose to 180 yuan per ton. However, high rising water and high absolute consideration limit the activity of market trading, today's downstream is mainly in need of procurement, do not want to replenish more.

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