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SMM Shanghai Copper spot Market Express on May 20: high copper prices and rising water make supply and demand sawing and pushing up water again with resistance
May 20,2020 11:48CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM May 20: today, the spot price of electrolytic copper in Shanghai is quoted at 180 to 200 yuan per ton for that month's contract, with a transaction price of 44000 yuan / ton to 44060 yuan per ton, and a transaction price of 44010 yuan / ton to 44070 yuan per ton. The price of copper will be extended by 43800 yuan / ton for first-line finishing. The morning market continues to quote yesterday at 180 ~ 200 yuan / ton, and the low-price supply is still favored by traders. Pingshui copper concentrated in 180 ~ 190 yuan / ton, good copper 190 ~ 200 yuan / ton, the brand price difference is only 10 yuan / ton, the market supply and demand is deadlocked; today, wet copper also shows a stalemate, quotation 150 ~ 160 yuan / ton. Copper futures is on the high side, the downstream performance is weak, due to the recent delivery of long orders, the market buying strength is still concentrated among traders; this month, the supply of warehouse orders has flowed out, the supply buyers have more choice, so there is resistance to push the rising water again, but the holder has no willingness to reduce the price for the time being, so the price difference is narrow, the speculative space for traders is small, and the high copper price is high for underwater supply and demand saws.

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