Home / Metal News / Copper / SMM Shanghai Copper spot Market Express on July 1st: the holder is in a hurry to change the buyer's fear of rising water and halving the strength and weakness of the period.
SMM Shanghai Copper spot Market Express on July 1st: the holder is in a hurry to change the buyer's fear of rising water and halving the strength and weakness of the period.
Jul 1,2020 12:05CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 1: today, the spot contract of electrolytic copper in Shanghai is quoted as rising water 80 yuan / ton ~ 120 yuan / ton, leveling copper transaction price 49370 yuan / ton ~ 49490 yuan / ton, litre copper transaction price 49380 yuan / ton ~ 49500 yuan / ton. Global liquidity easing and inflation spurred copper prices to continue to climb, continue to refresh recent highs, Shanghai copper rose another 500 yuan / ton to 49400 yuan / ton high today. After the copper rose, the market rose high and reported low. The morning market holder quoted a rising water price of 130,000,000 yuan / ton, and a large number of imported copper goods flowed out. The holder is eager to meet the high exchange desire, but the market is afraid of buying high and weak. Flat copper led to a downward slide trend under the deal, flat copper quotation fell straight down 100 yuan to rising water 90 yuan / ton, good copper quoted price slid to around 100 yuan / ton rising water, a small amount of transactions. In the second section of the trading stage, the high copper price made it difficult to improve the restrained trading situation in the market. The quoted price of Pingshui copper continued to drop to around 80 yuan / ton, and the quoted price of good copper dropped to 90 yuan / ton, all of which had room for price suppression. wet-process copper quickly followed up from 30 yuan 40 yuan to 10 yuan 20 yuan per ton. Futures prices continue to rebound, traders and downstream are afraid of high stop and wait-and-see state, holders sell a large number of goods, today's quotation is nearly halved to improve the market buying interest, strong and weak characteristics are highlighted, rising water has not seen a stop signal for the time being.

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