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July 30th SMM Guangdong copper spot market KuaiBao: weak demand rising water continues to decline today's trading is deserted
Jul 30,2020 12:01CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 30: today, the spot price of electrolytic copper in Guangdong province offered a discount of 100 yuan to the monthly contract, with an average price of 30 yuan, with an average price drop of 25 yuan / ton; while the wet copper newspaper offered a discount of 150 yuan to 140 yuan, with an average price drop of 10 yuan per ton. The average price of electrolytic copper is 51780 yuan / ton, while that of wet copper is 51700 yuan / ton. Spot market: Guangdong inventory continues to soar, superimposed consumption is weak (several copper rod factories have to be overhauled until Monday to resume production), so that today's spot market trading is very deserted, the holder has taken the initiative to reduce the price in early trading, flat copper quoted to a discount of 100 yuan / ton, but the discount is too large, the holder no longer downgrade rising water shipment, flat copper basically stable at-100 yuan / ton. Due to the tight supply of good copper and the large discount, many traders want to make warehouse receipts for delivery. As a result, good copper prices are showing a trend of rebounding at a low level. By 11:00, they heard that there was a transaction of-20 yuan per ton. On the other hand, the price of wet-process copper also continued to fall due to the overstock, with today's transaction price at a discount of 140,150 yuan / ton. Overall, weak consumption is the main reason for the recent decline in Shengshui in Guangdong. It is estimated that there will be a significant improvement at the beginning of next week, and Shengshui is expected to remain low tomorrow.

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