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July 20 SMM Shanghai Copper spot Market Express: copper futures continue to revise, finishing and rising water is becoming more and more stable.
Jul 20,2020 12:27CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 20: today, the spot price of electrolytic copper in Shanghai is quoted at 50-110 yuan / ton for that month's contract, 51300 yuan / ton to 51400 yuan / ton for flat copper, and 51350 yuan / ton to 51450 yuan / ton for copper at Shengshui. Shanghai copper continues to consolidate in the 5-10 moving average range, mostly in the 51250 / ton range of 51350 yuan / ton. In the morning market, the holder quoted a price stable at 50 RMB60 / ton for copper rising water in Pingshui, while good copper rose as high as 120 yuan / ton for rising water, and the transaction of flat copper remained active. For a short time, some brands, such as Dajiang small board, could lower the price to 40 yuan / ton, while in the second trading session, it was difficult to find flat copper with a rising water of 50 yuan / ton, and some consignors raised the price to 70 yuan / ton, but the transaction was significantly suppressed. The price difference of good copper is unique. Due to well-known reasons, ENM's quotation is almost close to flat copper, the domestic good copper market is hard to find, and the sole deposit-P is as high as 100 RMB110 / ton, which makes traders who receive good copper in a dilemma. The quotation of wet copper followed up at the discount of about 30 yuan / ton. The downstream is just needed, and the transaction continues to improve slightly. This week entered the long single delivery cycle, and the copper is in a correction period, the holder intends to rise the water, rising water is easy to rise but difficult to fall, the market transaction will also be significantly improved.

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