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May 29th SMM Shanghai copper spot market express: rising water is difficult to drop trading to reduce dilution is obvious at the end of the month.
May 29,2020 11:46CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM May 29th: today, the spot price of electrolytic copper in Shanghai for that month's contract is 160-180 yuan / ton, the transaction price of flat copper is 44100 yuan / ton ~ 44160 yuan / ton, and the transaction price of copper is 44110 yuan / ton-44170 yuan / ton. Shanghai copper hovering at the 44000 yuan / ton mark has always been difficult to break through. At the end of the month, on the last day of the month, most of the enterprises in the market were in settlement, the trading activity decreased, and the price quoted by the holder relaxed slightly, but the overall quotation performance was still stable. In the morning market, the price of flat water copper rose about 170 yuan / ton. Good copper quoted a water rise of 170 yuan per ton, while wet-process copper maintained a steady rise of 130 yuan per ton. The supply of low-priced goods in the market is limited, and it is still favored by some traders. Most of the downstream are waiting to enter the market after the next month, and there are no signs of large-scale selling and redemption by the holders. Today's weekend plus the end of the month, the market fully shows the characteristics of settlement.

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