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July 23rd SMM Shanghai Copper spot Market Express: buy interest to improve rising Water and hold steady at the time of Copper pullback
Jul 23,2020 11:56CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 23: today, the spot price of electrolytic copper in Shanghai is quoted for the contract of that month, the transaction price is 51680 yuan / ton ~ 51990 yuan / ton, and the transaction price of copper is 51730 yuan / ton ~ 52050 yuan / ton. Under the influence of the tense situation in Sino-US relations, all the non-ferrous basic metals turned green, the copper fell sharply overnight, and the copper in Shanghai fell back to below 52000 yuan / ton to as low as 51700 yuan / ton. The holder basically continues yesterday's quotation style, good copper water 80 ~ 100 yuan / ton, Pingshui copper water 30 yuan / ton, the market holds a cautious wait-and-see attitude; Entering the second trading session, copper prices fell, and the market was willing to buy flat copper with a rising water of 20 yuan / ton. After the transaction was significantly improved, the holders held firm quotations. Flat copper was concentrated in rising water 30 to rising water 40 yuan / ton, and good copper was maintained at about 100 yuan / ton, but the transaction was inferior to flat copper. After the copper price fell, the wet price narrowed slightly and remained around 50 yuan / ton. Copper prices fell after some downstream bargain replenishment, traders are mostly long single users, mainly to cut prices, rising water temporarily stable during the pullback.

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