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July 24th SMM Guangdong Copper spot Market Express: inventory has continuously increased, superimposed by weak consumption, and spot prices have begun to discount.
Jul 24,2020 11:59CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 on March 24: today, the spot price of electrolytic copper in Guangdong Province rose 0MUR 60 to the contract of that month, with an average price drop of 5 yuan / ton; wet copper newspaper discount 40 ~ discount 30, the same as yesterday. The average price of electrolytic copper is 52000 yuan / ton up 55 yuan / ton, and the average price of wet process copper is 51935 yuan / ton up 60 yuan / ton. Spot market: although copper prices continue to fall today, inventories have increased significantly for two consecutive days, the supply of negotiable goods in the market has increased significantly, and on Friday, you can feel that there is a marked increase in shippers today, and the rising water has also dropped. By 11:00, flat copper has been quoted as a discount of 10 yuan / ton, but even so, the desire to receive goods in the market is still very low. In addition, the mainstream trading price of today's good copper is 60 yuan / ton down 10 yuan / ton compared with yesterday, while wet copper is at a discount of 40 yuan 50 yuan / ton. Finally, it is understood that some copper rod factories have plans to stop production and overhaul next week, and it happens to be the end of the month, so we expect Shengshui to remain low next week, making it difficult to rebound substantially.

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