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July 1st SMM Guangdong Copper spot Market Express: inventory has increased for three consecutive days, rising water has fallen by more than 100 yuan a day.
Jul 1,2020 12:10CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 on March 1: today, the spot contract of electrolytic copper in Guangdong province rose 80 to 110, the average price fell 95 percent, and the wet copper rose 30 percent to 40 percent, with the average price down 100 percent. The average price of electrolytic copper is 49355 yuan / ton, and the average price of wet copper is 49295 yuan / ton. Spot market: Guangdong inventory has increased for three consecutive days, and the current inventory has increased by about 6,000 tons, or 55%, compared with that before the festival. Affected by this, the rising water in Guangdong has also dropped sharply for three consecutive days, with a daily drop of 100 yuan / ton. as of 11:00 today, the mainstream price of good copper is 110 yuan / ton, flat copper is 80 yuan / ton, and wet copper is 30 yuan / ton. after continuous price reductions, there is no price difference between the two places. However, at present, due to the expectation that stocks will continue to increase in the future, the market will continue to be bearish and rising, so the mood of receiving goods downstream is general, and trading is still poor today. We expect that there is still room for decline in rising water tomorrow.

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