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May 19th SMM Foreign Mountain Copper Premium Express: import prices weaken and the market has a strong wait-and-see mood.
May 19,2020 14:27CST
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Source:SMM
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May 19, 2020: today's warehouse receipt is quoted at US $105mur120 / ton, and the bill of lading is quoted at US $955,110 / ton, QP June. The LME0-3 discount is $25.50 / ton. The import loss is around 150 yuan / ton.

After the change of months, the domestic back structure continues to narrow, the price ratio is weaker, the import profit space is further compressed, and there are losses at present. The demand in the foreign trade market is more light, and there are few enquiries. Most of the bills of lading have been issued in recent months, the number of offers made by bills of lading in the distant months is limited, and most of them maintain the previous quotations. Taking into account the weakness of the price, the buyer showed a cautious wait-and-see in the face of the current high offer, resulting in a deal stalemate. There is almost no offer for the warehouse receipt. Today, there is a strong wait-and-see mood between buyers and sellers, and there are few transactions.

At present, the transaction price of fire good copper warehouse receipt is around 120 US dollars / ton, mainstream fire method 115 US dollars / ton, wet method 105 US dollars / ton; good copper bill of lading 110 US dollars / ton, mainstream fire 105 US dollars / ton, wet method 95 US dollars / ton.

(SMM Zhu Ruoyi)

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