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July 13th SMM Guangdong copper spot market express: high copper price suppresses transaction, today's market trading is dismal
Jul 13,2020 11:55CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 13: today, the spot price of electrolytic copper in Guangdong province rose 80 yuan / ton to that month's contract, with an average price drop of 80 yuan / ton; wet copper was quoted at 30 to 40 yuan per ton, with an average price drop of 70 yuan / ton. The average price of electrolytic copper is 53010 yuan / ton up 2280 yuan / ton, and the average price of wet-process copper is 52950 yuan / ton up 2290 yuan / ton. Spot market: the arrival of imported copper and domestic copper increased significantly over the weekend, stocks increased significantly by more than 4,000 tons, and the overall inventory rose again to 20,000 tons. In addition, the price of copper futures rose by more than 5% today. Against the backdrop of a big increase in inventories and copper futures prices, holders continue to reduce the level of copper to 60 yuan / ton at around 11:00, while good copper is maintained at 110 yuan / ton near the delivery price, and wet-process copper is down to 20 yuan / ton. 30 yuan / ton. However, even so, the downstream demand for receiving goods is still very low, only to maintain the need to purchase. Overall, high copper prices discouraged trading, and trading was dismal today.

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