Home / Metal News / Copper / July 20 SMM Guangdong Copper spot Market Express: although copper prices continue to fall, downstream purchasing desire is still low.
July 20 SMM Guangdong Copper spot Market Express: although copper prices continue to fall, downstream purchasing desire is still low.
Jul 20,2020 12:05CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 on March 20: today, the spot price of electrolytic copper in Guangdong Province rose 50 cents per ton to the contract for that month, with an average price increase of 5 yuan per ton; wet copper was quoted as flat water ~ 10, with an average price increase of 10 yuan per ton. The average price of electrolytic copper is 51370 yuan / ton, while that of wet copper is 51305 yuan / ton. Spot market: Guangdong inventory continued to increase after returning to Guangdong at the weekend. After more than a week of accumulation, Guangdong inventory has approached the 30,000 mark, returning to the level of mid-May. Affected by the increase in inventories and a slight drop in prices, Shengshui in Guangdong rose slightly today compared with last Friday. The mainstream transaction price of good copper was 90 yuan / ton, that of flat copper was 50 yuan / ton, and that of wet copper was 0 yuan / ton. Overall, although copper prices fell slightly today, but the downstream procurement desire is low, transactions are mainly concentrated between traders. We believe that unless there is a further decline in prices, the downstream procurement enthusiasm is not high, only to maintain on-demand procurement, there is still the possibility of continuing to accumulate reserves in the future.

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