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July 8 SMM Shanghai Copper spot Market Express: the market is steadily rising, rising water is becoming more difficult to hold down the price.
Jul 8,2020 11:57CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 8: today, the spot price of electrolytic copper in Shanghai is quoted as 40-60 yuan per ton for that month's contract, 49800 yuan / ton to 49890 yuan per ton for leveling copper, and 49810 yuan / ton to 49900 yuan / ton for copper in Shengshui. The center of gravity of copper in Shanghai was slowly pushed up to 49850 yuan / ton, the spot market holders offered firm, the morning market quoted 50 million 60 yuan / ton, the buyer slightly hesitated to wait and see, transaction stalemate, after 10:00, after a low price, flat copper can be traded at 40 yuan / ton, but the offer is still strong, good copper held steady at 50 yuan 60 yuan / ton, wet copper has few changes, maintain stability at 50 yuan / ton discount. The market continued to push up steadily, the spot market also tried to push up the water at the same time, the holders rarely relaxed and took the initiative to reduce prices, and trade inquiries were active, which were the main contributors to today's transactions. Although the supply and demand sides temporarily pull the saw, the actual transaction is slightly glued, but it is also difficult to change the current trend of rising water stability.

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