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May 28th SMM Guangdong Copper spot Market Express: trading weakens today with rising water rising towards the end of the month
May 28,2020 11:49CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 28: today, the spot price of electrolytic copper in Guangdong province rose 230,240 to that month's contract, with an average price increase of 10 percent; wet copper rose 180 percent to 190 percent, with an average price increase of 20 percent. The average price of electrolytic copper is 44045 yuan / ton, while that of wet process copper is 43995 yuan / ton. In the spot market, copper prices fell in the night market, coupled with falling inventories, today the bearer continued to offer a good price of 250yuan / ton, and Pingshui copper to 240yuan / ton; however, near the end of the month, no matter downstream users or traders do not have a strong desire to receive goods; the holder can only reduce the price for shipment. by around 11:00, good copper has dropped to 240yuan / ton, and Pingshui copper has heard the lowest quotation of 220yuan / ton. In addition, due to the insufficient supply of flat-water copper, there is an inflow of wet-process copper, resulting in a narrowing of the price difference between wet-process copper and flat-water copper today. Overall, trading weakened today as it approached the end of the month, coupled with higher rising water.

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