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May 27th SMM Guangdong Copper spot Market Express: inventory is low, holders generally bid up and shipments downstream are forced to accept high rising water.
May 27,2020 11:40CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 27: today, the spot price of electrolytic copper in Guangdong province rose 220: 230 to that month's contract, with an average price up 20%; wet copper reported a rise of 160: 170, with an average price up 10%. The average price of electrolytic copper is 44195 yuan / ton, and that of wet copper is 44135 yuan / ton. In the spot market, there were more wet-process copper out of the warehouse yesterday, but the arrival volume was still limited, resulting in a significant decline in inventories, which have fallen to 23400 tons in Guangdong, refreshing a new low for the year. Affected by this, today's holders generally bid for delivery, and the daily rising water shows a fluctuating and high situation. The mainstream transaction price of good copper is 230pm 240 yuan / ton, the mainstream transaction price of flat copper is 220pm 230 yuan / ton, and the mainstream transaction price of wet copper is 170mp 180 yuan / ton. The mainstream transaction price of copper is 180 yuan / tonne, while the mainstream transaction price of flat copper is 230 yuan / ton, while the mainstream transaction price of flat copper is 230 yuan / ton. Overall, low inventory holders generally bid for shipments, the lower reaches are forced to accept high rising water, and the overall transaction is general.

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