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SMM7 9 North China Copper spot Market Express: copper prices return to 50, 000 upstream and downstream wait-and-see execution of long orders
Jul 9,2020 17:53CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 9: today, the spot contract for electrolytic copper in North China quoted flat water to 80 yuan per ton, with a transaction price of 50430 yuan per ton to 50800 yuan per ton. A-share continued to rise, with frequent news of mine production expansion and shipping delays in South America, and the bullish atmosphere pushed copper prices higher step by step. Copper in Shanghai broke through the 50, 000 mark to 50700 yuan / ton, rising by more than 700 yuan / ton. The overall supply of goods from the north is not much, and the smelter is still willing to raise the price, the upper limit is to maintain yesterday's high price at 80 yuan / ton, and the downstream remains wait-and-see after the sharp rise in copper prices, basically implementing the long order, and some traders take the initiative to lower the price without success, and the quotation goes back to the first line of flat water, and the average price of rising discount is slightly lower than that of yesterday by 5 yuan / ton.

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