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July 24th SMM Shanghai Copper spot Market Express: long order end consumption shows that the rising water is easy to fall but difficult to rise in the off-season.
Jul 24,2020 12:07CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM July 24th: today, the spot price of electrolytic copper in Shanghai is quoted as rising water 20 to 90 yuan per ton, flat copper trading price 51820 yuan / ton to 51980 yuan / ton, copper trading price 51870 yuan / ton to 52020 yuan / ton. Shanghai copper pressure 52000 yuan / ton shock finishing. The morning market holder continued yesterday's quotation of Pingshui copper 40 yuan 50 yuan / ton good copper water 90 won 100 yuan / ton, but the deal was difficult. Today Friday, the monthly long order is coming to an end, and the holder has a strong willingness to cash, so he has no choice but to take the initiative to lower the quotation. Good copper is lowered to 70 yuan 80 yuan / ton, and the flat copper quotation is mostly 30 yuan / ton, but the buyer's intention is even lower. After a long confrontation between supply and demand, Pingshui copper raised 20 yuan / ton so that the transaction has been slightly improved, and the quotation of wet-process copper has been slightly lowered, from 50-40 yuan / ton to 70 yuan / ton, and some of the low-end difference of wet-process copper can be as low as 100 yuan. The willingness to receive goods downstream is low, and the actual consumption is weak. Shanghai social inventory continued to increase this week, making it difficult for holders to expect rising water to enter the end of next month, superimposed disk rebound brought about a wait-and-see stop downstream, the off-season effect is becoming more and more obvious.

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