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The Sino-US trade war continues to ease, but the US dollar index continues to be strong on the copper price rally, London copper overnight rushed back down to $6900 entrenched, Shanghai copper main force continued to chase higher narrowing overnight decline, the central bank reduced the RRR today, ease the pressure on the capital surface, scrap copper shortage on the long-term copper price support is obvious, the current macro has no obvious bright spots to promote copper prices further upward, it is expected that today's copper market shock adjustment, focus on the follow-up development
of the trade war.
In terms of the market, Shanghai copper in the 51500 yuan / ton of the first line of shock, morning market holders quotation positive, market quotation premium 280 ~ 320 yuan / ton, buying inquiry is very little, holders are forced to lower the quotation premium 270 ~ 300 yuan / ton, the willingness to receive goods is still low, the second trading session, the market rose slightly, the holder had no choice but to lower the quotation flat water copper premium 260 yuan, good copper quotation premium 290 yuan / ton, the receiving volume is still hesitant and delayed, wet copper receiving willingness is low, maintain the previous day's quotation premium 200 ~ 220 yuan/ton
.
Downstream in the recent market instability, enter the market to buy down, today 25th, this month long order trading will basically come to an end, so these days of shipments are very active, tomorrow to the end of the month, market trading or will be more difficult to unfold, supply and demand is more likely to fall into a standoff
.
So far this week, there has been no significant improvement in transactions
.
Scrap copper market, the market supply is obviously in short supply, because the import source can not be replenished, the current holders of high prices and high premium shipments, because the waste electricity price difference continues to narrow, most of the downstream turn to the purchase of high-quality electrolytic copper, conducive to the further increase in consumption demand for electric copper, because the current premium is too high, downstream shutdown and production reduction phenomenon increases, holders continue to sell, the overall transaction is more quiet
.
