Home / Metal News / Copper / July 28th SMM Guangdong copper spot market KuaiBao: copper prices rise superimposed inventory increases rising water continues to decline
July 28th SMM Guangdong copper spot market KuaiBao: copper prices rise superimposed inventory increases rising water continues to decline
Jul 28,2020 11:21CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 28: today, the spot price of electrolytic copper in Guangdong Province offered a discount of 50-30 per ton for the contract of that month, with an average price of 20 yuan / ton, while the wet copper quoted a discount of 100 to 90 per ton, with an average price of 20 yuan per ton. The average price of electrolytic copper is 51995 yuan / ton, and the average price of wet copper is 51910 yuan / ton. Spot market: Guangdong inventory has increased significantly for five consecutive days and is now approaching the 40,000 mark. In just one week, inventory has increased by more than 9,000 tons, an increase of 31%. Coupled with the copper price rising again today, making the already weak downstream demand even worse, so the holder can only continue to reduce the rise of water shipments, but even so, today's transaction is still quiet. By 11:00, good copper fell to 20 pound 30 yuan / ton, flat copper to-50 pound 60 yuan / ton, and wet-process copper to-100 pound 90 yuan / ton. In addition, as far as we know, a medium-sized copper rod factory is about to be overhauled, and downstream consumption is expected to fall further, and rising water is expected to fall further.

Quotation
noon news

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn