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July 13 SMM Shanghai Copper spot Quick report: copper prices soar by more than 5%, brushing a two-year high, sellers actively cash buyers afraid of heights and wait and see.
Jul 13,2020 12:05CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 13: today, the spot contract for electrolytic copper in Shanghai is quoted at 30 yuan per ton for the current month, with a transaction price of 52700 yuan per ton to 53280 yuan per ton, and a transaction price of 52720 yuan per ton to 53300 yuan per ton. Driven by the bullish atmosphere, the global market showed a phenomenon of floating red in an all-round way. Lun Copper rose to a high in nearly two years, and the price of copper in Shanghai rose by more than 5%, soaring by more than 2, 000, rising to a high of 53400 yuan / ton, and the holders mainly exchanged cash at a high level. although the quotation in the morning market started around 30 yuan per ton, there was a price reduction tide very quickly, and flat copper was the first to drop to about 10 yuan per tonne. Good copper quoted a rise of 20 to 30 yuan per ton. But the market is still lack of interest, few transactions; At about 10 o'clock, flat copper was generally quoted as flat water, and the price of good copper rose by 10 yuan to 20 yuan per ton, but the actual transaction was at a lower price, especially by the end of the afternoon, it could be heard that part of the flat copper price could be reduced to 10 yuan / ton. Today, the purchase volume downstream is rare, and the wet method is as low as 80 yuan 60 yuan / ton. The commodity market has soared in an all-round way, but the spot market is far less than the strong performance of futures. Holders actively exchange cash at high prices and strive to close a deal. Buyers are afraid of high prices, and there is a lack of buying in the market. However, in the face of the approach of delivery, the price difference between the current month and the next month has changed, and the near-weak and far-strong pattern makes the holders unwilling to trade at a discount. If this pattern is maintained before delivery, the spot quotation will be deadlocked at the current quotation level, which is difficult to lower the price and raise the water.

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