Home / Metal News / Copper / July 16 SMM Guangdong copper spot market express: low rising water and low copper price stimulate trading activity in the market today
July 16 SMM Guangdong copper spot market express: low rising water and low copper price stimulate trading activity in the market today
Jul 16,2020 11:54CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 16: today, the spot price of electrolytic copper in Guangdong Province has risen 20% to 60% for that month's contract, and the average price has dropped 60%; the wet copper price has dropped 70%, with a discount of 20% ~ 10%. The average price of electrolytic copper is 51175 yuan / ton, down 1375 yuan / ton, and the average price of wet-process copper is 51130 yuan / ton-1375 yuan / ton. Spot market: inventory in Guangdong has increased for four consecutive days, and the supply of goods in the market is sufficient. As soon as the rising water continues to rise, there is a shock and drop; in addition, recently, a lot of wet-process copper has flowed into the Guangdong market, and the lower reaches generally favor low-price wet-process copper, which makes it slightly difficult to sell flat copper. Today, the main trading price of good copper is 60 yuan / ton, the mainstream transaction price of flat copper is 20 yuan / ton, and that of wet copper is 10 yuan / ton. Overall, after the change of month, the shippers' willingness to ship goods increased significantly, coupled with the sharp drop in futures prices, the downstream purchasing desire increased significantly than yesterday; low rising water and low copper prices stimulated trading, and today's market trading activity increased.

Quotation
noon news

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn