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May 28th SMM Shanghai Copper spot Market Express: the disk is blocked at the end of the month, buying is cautious, but inventory decline makes it difficult for rising water to fall.
May 28,2020 11:55CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM May 28th: today, the spot contract of electrolytic copper in Shanghai is quoted as rising water 170 to 200 yuan / ton, flat copper at 43980 yuan / ton to 44060 yuan / ton, and copper at 43990 yuan / ton to 44080 yuan / ton. The pressure on copper in Shanghai fell back to 43800 yuan / ton, and the trading period was kept in a narrow range. In the last two trading days at the end of the month, most traders have completed the settlement of the bills of that month, and some downstream receipts still need to be settled by monthly tickets. The following monthly ticket trading is dominated by the market, and the price difference is maintained in the range of 1020 yuan / ton. But nearly 200 yuan / ton of rising water market rarely low willingness to receive goods, holders have no choice but to lower the quotation, good copper generally rise 180 yuan 190 yuan / ton, flat copper can be as low as 170 yuan / ton, depressed price receiving space is limited, traders buy bargain, wet copper quotation at rising water 140 yuan / ton or so, downstream careful maintenance just need to buy. At the end of the month, the market is blocked at the 44000 yuan / ton mark, spot buying is cautious, but spot inventory continues to decline, rising water is less likely to fall, and the supply and demand stalemate may continue before the weekend.

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