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July 23rd SMM Guangdong Copper spot Quick report: the fall in copper prices failed to boost the trading atmosphere in the market. Trading is still weak.
Jul 23,2020 11:50CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 23: today, the spot price of electrolytic copper in Guangdong Province has risen to 70 for that month's contract, with an average price down 15 yuan / ton; wet copper quoted a discount of 40 to 30 yuan, with an average price drop of 10 yuan / ton. The average price of electrolytic copper is 51945 yuan / ton, and the average price of wet process copper is 51875 yuan / ton. Spot market: under the influence of geopolitics and other factors, copper prices fell sharply today, which stimulated the consignors to still want to sell at a straight price in early trading (flat copper was at 30 yuan / ton), but was constrained by weak consumption downstream and inventory continued to increase. The market trading atmosphere was cold, and the cardholders could only reduce the water for shipment. After 10:00, the flat copper in the market had dropped to 0 yuan / ton, but the willingness to continue to reduce the price was not strong. Some buyers have also begun to replenish goods at bargain prices, and the trading atmosphere in the market has improved slightly. The price of good copper is kept at a high level of 70 yuan / ton due to lack of goods. Overall, the fall in copper prices failed to boost the trading atmosphere in the market, with only a small number of traders restocking bargains.

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