July 10th SMM Guangdong Copper spot Market Express: today's chaotic quotation suppresses the trading atmosphere in the market.

Published: Jul 10, 2020 11:56

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SMM7 March 10: today, the spot price of electrolytic copper in Guangdong province rose 160 yuan / ton to that month's contract, with an average price increase of 55 yuan / ton; wet copper rose 100 to 110 yuan / ton, with an average price increase of 50 yuan / ton. The average price of electrolytic copper is 50730 yuan / ton, while that of wet copper is 50660 yuan / ton. Spot market: inventory continues to decline, the holder is firm price willingness, in early trading is flat copper once reported at 170max 180 yuan / ton, but near the weekend and shipments significantly increased, rising water dropped, intraday reported 140gamma 150 yuan / ton, some imported copper is reported to 120 yuan / ton; However, some holders suddenly raised their prices to 170 yuan / ton, but there were not many underwater buyers in Gaosheng, and finally the market returned to 150 RMB 160 yuan / ton. On the whole, the Guangdong market quotation is chaotic today, there are bullish bearish and rising water, but the excessive rising water suppresses the trading sentiment of the market. We believe that the recent tight supply in Guangdong is the main reason for the market divergency. looking forward to next week, we do not expect a large number of goods to arrive before delivery, and the rising water in the first half of next week may remain at a high level, making it difficult to plummet.

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