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July 2nd SMM Guangdong Copper spot Market Express: although Shengshui continues to fall, the rate of decline has slowed down.
Jul 2,2020 11:58CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 on March 2: today, the spot price of electrolytic copper in Guangdong province rose 30% to the monthly contract, the average price fell 55%; the wet copper quoted a discount of 20% 10%, the average price fell 50%. The average price of electrolytic copper is 49530 yuan / ton, while that of wet copper is 49475 yuan / ton. Spot market: Guangdong inventory continues the increasing momentum before, and there is no sign of a decline for the time being. coupled with the obvious narrowing of the base difference between two months, the holder continues to reduce the price for shipment. by about 11:00, good copper has dropped to 50 yuan / ton. flat copper has dropped to 30 yuan / ton, and even a discount of 10 yuan / ton has appeared in wet-process copper. However, it is worth noting that after four consecutive days of sharp decline, the decline in rising water has become smaller today, and the number of people receiving goods in the market has also increased compared with yesterday. At one point, there was an offer of 20 yuan per ton for flat copper rising water in the market today, but it was soon swept away, and the momentum of continuous decline showed signs of slowing down. We can expect that the rising water will bottom out tomorrow or next Monday as the arrival of Shanghai and imported goods is completed and the delivery date is approaching.

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