SMM7 March 3: today, the spot price of electrolytic copper in Guangdong Province has risen by 40 per cent to the monthly contract, with an average price up 15 per cent; wet copper has a discount of 10 per cent, with an average price increase of 10 per cent. The average price of electrolytic copper is 49450 yuan / ton down 80 yuan / ton, and the average price of wet-process copper is 49390 yuan / ton / ton-85 yuan / ton. Spot market: although inventories continue to increase today, the growth rate has decreased compared with yesterday, the market expects this round of concentrated delivery is coming to an end, coupled with copper prices have also fallen, downstream purchase willingness has also increased than before. In addition, the narrowing of the base margin has also stimulated some trade receipts. As a result, today's shippers generally bid up, and the rising water showed a low opening and a high move during the day. By 11:00, good copper had risen to 70 shock 80 yuan / ton, flat water copper had risen to 40 pound 50 yuan / ton, and wet copper was quoted at 0 yuan / ton. We expect a large number of arrivals to end at the end of the weekend or early next week, which is expected to restart the destocking trend, and the rising water supply will fluctuate higher next week.
