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July 17th SMM Shanghai Copper spot Market Express: copper futures stopped falling and rebounded, Buy Xing improved and rose above the water.
Jul 17,2020 11:48CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 17: today, the spot price of electrolytic copper in Shanghai is quoted as 50-80 yuan per ton for that month's contract, 51580 yuan / ton to 51780 yuan / ton for leveling copper, and 51600 yuan / ton to 51800 yuan / ton for copper in Shengshui. Copper in Shanghai stood steady at 51000 yuan / ton, showing that it rose first and then suppressed. In the morning trading session, it came out of an inverted V shape, rising 51750 yuan / ton and then falling back to around 51500 yuan / ton. In the morning market, the holder quoted a price of 60 yuan per ton for levelling copper and 80 yuan per ton for good copper. Traders still prefer levelling copper, asking for more deposits, and levelling copper rises 50 yuan / ton. Individual prices can be reduced to 40 yuan / ton. Good copper has a strong decline due to a small proportion of goods. Wet copper followed up the offer to 5040 yuan / ton, and downstream consumption continued to improve with traders. Shanghai copper rebounded today, the low level of copper in Shanghai is rising today, and the price of copper in Shanghai has rebounded today, due to the low price of copper in Shanghai, the price of copper has risen to 40 yuan / ton, and the price of good copper has been raised to 5040 yuan / ton, and downstream consumption has continued to improve with traders. Market confidence has warmed up, buying corresponding improvement, next week will enter a long single delivery cycle, rising water is easy to rise and difficult to fall, but close to 100 yuan will be suppressed, sawing or will reappear.

(Chen Ming 021 muri 51595816)

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