This week, the “SMM Copper Industry chain Weekly report” was released, and the editor selected hot topics, prices, quotations or major changes in the industry chain and published articles for your reference. Welcome to subscribe to the “SMM Copper Industry chain Weekly report” to learn more.
The following is an excerpt from the weekly report of SMM copper industry chain:
This week, the foreign trade market has a strong atmosphere at the end of the year, market trading is unusually light, and the premium continues to decline under the pressure of oversupply. At the end of the year, most enterprises have closed their accounts, the activity performance of both buyers and sellers is low, the LME market is closed again on Monday and Tuesday, the market lacks price comparison guidelines, some traders go on leave ahead of time, and the overall market trading is light. From the perspective of price comparison, the import loss fluctuates at about 700 yuan / ton, which is not conducive to the import operation of customs declaration. Transactions between traders are deserted, most of them have no intention to increase inventory, and the enthusiasm to buy goods is not high. There are still offers for bills of lading arriving in Hong Kong in early January, but it is difficult to match the demand. Warehouse receipts, imports of substantial losses superimposed back structure, warehouse receipts have no advantage, heard of domestic fire warehouse receipts quoted at the level of 86 US dollars / ton, but not yet closed. At present, most traders take a wait-and-see attitude and want to wait for New Year’s Day to return from the holiday before participating in market transactions. Pay attention to the turnover of the US dollar copper market after the start of the New year after the return of the festival.
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