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May 19th SMM Shanghai Copper spot Market Express: traders lead the buying period is now rising
May 19,2020 12:00CST
The content below was translated by Tencent automatically for reference.

SMM May 19th: today, the spot price of electrolytic copper in Shanghai is quoted for the monthly contract: 180 to 210 yuan / ton, leveling copper at 44020 yuan / ton to 44090 yuan / ton, and copper at 44030 yuan / ton to 44100 yuan / ton. Copper opened high to 44000 yuan / ton in early trading in Shanghai. After the change of months, the market gradually entered the long order delivery stage, while the domestic copper inventory decreased significantly in the past two months. The stock output from Shanghai remained high, and the mood of rising water by the holder in the morning was further fermented, and the quotation was as high as 180,000,200 yuan / ton. The morning market bought Xingqiang, the transaction was enthusiastic, the holder went up again, the flat copper quoted price rose 190,000,200 yuan / ton, and the good copper quoted price rose to 210 yuan / ton, but the transaction activity has not been further improved. The market paused for the time being, keeping the quotation at the level of 190 million 210 yuan / ton. Downstream maintenance is just needed, wet-process copper is mostly traded at 160 yuan per ton. Today's futures are rising, the supply of low rising water in the morning market attracts the influx of trade buyers, and it is not enough for the holders to push up the water again, but the traders will stop to follow up, and the pace of the rising water will slow down a bit.

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