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May 21, SMM Shanghai Copper spot Market Express: copper prices rose strongly, imports of copper flooded into rising water and fell back.
May 21,2020 12:07CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM May 21: today, the spot price of electrolytic copper in Shanghai for that month's contract is 160 yuan to 200 yuan / ton, the transaction price of copper in flat water is 44550 yuan / ton to 44650 yuan / ton, and the transaction price of copper in water is 44560 yuan / ton to 44670 yuan / ton. The two domestic sessions are just around the corner, and the market is expected to boost policies such as economic stimulus and new infrastructure. After the strong rebound of copper in Shanghai broke through 44000 yuan / ton, the target was 44500 yuan / ton, an increase of more than 500 yuan / ton. The price quoted by the consignor in the morning market was flat in the range of 180 yuan / ton, while the price of copper in Pingshui was OK. The rebound of the recognized copper price in the lower reaches maintained the pace of just receiving the goods, but due to the continuous increase in the clearance of imported copper into the warehouse, the supply of imported copper increased significantly, and the willingness of the consignors to exchange cash increased one after another, and they opened the mode of price reduction one after another in an attempt to win by price advantage and increase the chances of transaction and redemption.Therefore, Pingshui copper fell from 170 yuan / ton to 150 yuan / ton, and good copper fell to 170 yuan / ton, which was not as good as flat copper. Due to the obvious proportion of wet-process copper and low-end imported copper in imported copper sources, wet-process copper dropped directly from 150 yuan / ton in the morning market to 130 yuan / ton in the morning market. The market is high, although there is no shortage of buyers in the market, it is difficult to withstand the eagerness of shippers to sell. If the Shanghai-Lun ratio remains strong, the inflow of imported copper will also continue, and the rising water will stop at the 200 yuan / ton mark in the short term because of the high exchange pressure.

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