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July 14 SMM Guangdong Copper spot Market Express: inventory continues to rise and water continues to fall
Jul 14,2020 11:45CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 14: today, the spot price of electrolytic copper in Guangdong province rose 40 yuan / ton to the monthly contract, the average price fell 25 yuan / ton; the average price of wet copper newspaper paste 10 ~ flat water, the average price fell 40 yuan / ton. The average price of electrolytic copper is 52095 yuan / ton, and the average price of wet process copper is 52050 yuan / ton. Spot market: Guangdong inventories soared for two consecutive days, increasing by more than 7400 tons, or 41 per cent, to 25500 tons in just two days. Affected by this, the holder continued to adjust the price for shipment. by 11:00, flat copper had dropped to 20,30 yuan / ton, and there was even a discount on wet-process copper, while good copper remained at 100 yuan / ton due to delivery reasons. In terms of market trading, due to a certain correction in copper prices today, and rising water is lower, some downstream began to replenish, but the purchase volume is still limited; and traders affected by the approaching delivery, trading is not active. Overall, the trading atmosphere in the market today is better than yesterday, but it has not returned to the normal level. Finally, it is reported that copper imports are still arriving in Hong Kong this week, and stocks are still rising.

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