May 20th SMM Guangdong Copper spot Market Express: Shengshui continues to soar, but the consignee is limited and the transaction is not good.

Published: May 20, 2020 11:41

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SMM5 March 20: today, spot electrolytic copper in Guangdong province rose 250 to 260 for that month's contract, with an average price increase of 45 percent, while wet copper rose 200 percent to 210, with an average price increase of 40 percent. The average price of electrolytic copper is 44065 yuan / ton, 55 yuan / ton, and the average price of wet-process copper is 44015 yuan / ton, 60 yuan / ton. In the spot market, inventories continued to decline, stimulating shippers to bid up for shipments. Early in the morning, they heard the price of 250 yuan / ton of good copper and copper, because shippers were limited and those who received goods were forced to accept high water supply, but users only maintained on-demand purchases and did not want to receive more goods. In addition, with the outflow of delivery sources, the price of good copper rose to 260 yuan / ton and then fell back to 250 yuan / ton. In the future, we still need to pay attention to the outflow of warehouse receipts, if a large number of warehouse receipts outflow is not conducive to rising water. On the whole, Shengshui continued to rise today, but the transaction was not good due to the limited number of consignees.

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