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July 2nd SMM Yangshan Copper Premium Express: deadlock between supply and demand in Foreign Trade Market
Jul 2,2020 16:57CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

July 2, 2020: today's warehouse receipt quotation is US $94mur108 / ton, the average price is US $1 / ton lower than the previous day; the bill of lading is quoted at US $78mur90 / ton, the average price is down US $2 / ton compared with the previous day, QP August. The LME0-3 discount is $10.25 / ton, and the import loss is around 150 yuan / ton.

Today, the overall turnover in the market is light, and the activity of both buyers and sellers is relatively low. The price comparison has not yet been opened, and most traders still choose to wait and see and do not quote the bill of lading arriving in Hong Kong in mid-late July. There are a small number of holders who have lowered their quotations slightly. However, the buyer is expected to have room for price reduction, the price of the buying and selling order is difficult to match, and the transaction performance is deadlocked. There is basically no offer for warehouse receipts, and there are a small number of high-priced transactions. In addition, recently, there has been a concentrated declaration of imported copper, which has also had an impact on the domestic trade market.

At present, the transaction price of fire good copper warehouse receipt is around 108 US dollars / ton, mainstream fire method 100 US dollars / ton, wet method 94 US dollars / ton, good copper bill of lading 90 US dollars / ton, mainstream fire 85 US dollars / ton, wet method 78 US dollars / ton.

(SMM Zhu Ruoyi)

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