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Recently the macro market bearish sentiment is obviously strong, the metal market is obviously under pressure and plunged sharply, affected by the US desire to carry out military strikes on Syria, risk aversion has heated up sharply, London copper is still in the morning of $6800 first-line support, the recent decline has significantly expanded, Shanghai copper main force has been replaced by 1806 contract, in the morning China announced that copper imports in March soared, indicating that downstream consumption continues to recover, support for copper prices appeared, Shanghai copper main force in the morning slightly rebounded to boost up, but obviously weak basically maintained yesterday's level, the current inventory continues to decline, Spot premiums are pulling higher, or suggesting that copper prices have a limited decline in the near future, focusing on the improvement of downstream consumer demand, and it is expected that today's Shanghai copper will fluctuate in a narrow range, and the overall trend
is still weak.
In terms of the market, Shanghai copper opened low and high, still in the 50500 yuan / ton of the first line of shock, morning market quotation premium 50 ~ 80 yuan / ton, following yesterday's downstream bargain harvest, today's downstream buying slightly hesitant, transaction delay, quotation rapid downward, flat water copper quotation premium 30 ~ 40 yuan / ton, good copper fell in the premium 60 yuan / ton line, the transaction only to show good
.
Although it is the weekend, the downstream stocking performance is just needed
compared to yesterday.
After 11 o'clock, the plate rose slightly, the next month inverted price spread widened to about 150 yuan / ton, close to delivery, widened the spread space, traders raised the water again, the quotation rose back to 50 ~ 80 yuan / ton, but the transaction response was not positive, waiting for the afternoon performance, traders still expect a certain spread space
in April and before delivery.
Scrap copper market, the market supply is obviously in short supply, because the import source can not be replenished, the current holders of many prices high premium shipments, due to the further expansion of the waste electricity price difference, most of the downstream turn to the purchase of high-quality electrolytic copper, conducive to the further increase in copper consumption demand, the market is generally optimistic about the rise in copper prices in the future, near the end of the month downstream users purchase on demand, the overall total transaction volume is less
.
