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A brief review of Shanghai copper on September 3

 Last Update: 2022-12-12
 Source: Internet
 Author: User

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Shanghai copper extended its decline today, with the main contract closing at 48170 points, down 0.
84%.

From a technical point of view, after the downward pressure of $6150, short-term support is located at $5950, corresponding to Shanghai copper 48000 points
.
In terms of news, China's Caixin manufacturing PMI value of 50.
6 in August released in the morning fell to a 14-month low, indicating that the demand side has contracted again, and the economy is still facing downward pressure; at the same time, the recovery of the dollar and the uncertainty of the trade war will also suppress copper prices, and it is expected that the weakness of copper prices will continue
in the near future.

Shanghai copper

South Reserve East China: average price of electrolytic copper: 48270 yuan, down 320, premium quotation: 110 to 150, up 30
.
In East China, copper prices fell, holders held up prices, spot premiums rose, but traders and downstream manufacturers were cautious on Monday, inquiries were less, intraday premiums fell, and the overall transaction was average
.
Today's premium copper mainstream trading pair futures contract premium 150-160 yuan, flat water copper premium 110-130 yuan, wet copper premium 40-50 yuan
.

South China Reserve: average price of electrolytic copper: 48300 yuan, down 330, premium quotation: 150 to 180, up 50
.
In Guangdong, copper prices fell sharply and inventories declined, holders sharply raised their quotations and shipments in the morning, flat water copper premium up to 220 yuan / ton, up about 120 yuan from last Friday, but almost no transaction, then holders in order to seek transaction price adjustment, flat water copper premium gradually fell back to 140-160 yuan / ton, the transaction began
.
Overall, the premium rose rapidly, the downstream and traders cautiously chased up the limited, and the transaction was not good
.
The premium copper mainstream trading pair futures contract premium 170-180 yuan / ton, flat water copper premium 140-160 yuan / ton
.

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