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May 29th SMM Guangdong Copper spot Market Express: supply is tight, the holder continues to push the price and ship the goods.
May 29,2020 12:19CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM5 March 29: today, the spot price of electrolytic copper in Guangdong province rose 240: 260 to that month's contract, with an average price up 15%; wet copper quoted a rise of 190: 200, with an average price up 10%. The average price of electrolytic copper is 44155 yuan / ton, and the average price of wet copper is 44100 yuan / ton. In the spot market, although today is the end of the month, the holder still makes shipments at a straight price against the backdrop of reduced inventory. In early trading, good copper heard 270yuan / ton, while flat copper quoted 250yuan / ton. However, the transaction was average, and the holder lowered 10 yuan / ton slightly. However, around 11:00, the market quotation returned to the level of early trading. It is also understood that due to the tight supply of goods stored in the south, the storage in the south can be 20 yuan / ton higher than that in Guangdong. Generally speaking, the shortage of inventory is the root cause of the price hike by the holders. we expect that the volume of goods will remain limited next week and the Guangdong Shengshui will remain at a high level.

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