August 13 Copper Market Brief Review

Today's Shanghai copper main contract 1910 opened at 46620 yuan / ton in the morning, after the opening of the center of gravity remained stable around 46630 yuan / ton oscillation sorting, then the center of gravity moved down, the afternoon opening continued to fall to the lowest level of the day 46550 yuan / ton, and then continued to recover the center of gravity returned to 46620 yuan / ton position, and then continued to fall, closing at 46560 yuan / ton, down 140 yuan / ton, down 0.
3%.

The average price of electrolytic copper in East China of the South Reserve: 46550 yuan, down 10, the monthly discount quotation: 30 to 60, down 5
.
In the morning, the market atmosphere was more active, the holders quoted positively, and the premium price continued to yesterday's level, but the market wait-and-see sentiment was still strong, the trading sentiment was weak, and the holders were looking for low-priced supplies
.
The transaction of flat water copper is mainly low-price sources; Good copper quotations have fallen to a certain extent compared with yesterday, and there are not many
low-priced supplies.
Copper premium to the current month premium of 50-60 yuan, down 10; flat water copper premium 30-40 yuan, flat; Wet copper flat water 0-liter water 10 yuan, flat
.

The average price of electrolytic copper in South China: 46470 yuan, up 10, the monthly discount quotation: -100 to 20, up 5
.
Shanghai copper sideways, and the spot market is also waiting for the month, the overall atmosphere is not active, in the morning flat water copper report -80, -90 yuan / ton, good copper report +10, +20 yuan / ton
.
Good copper circulation is not much, can be +20 yuan / ton in the morning transactions, flat water copper is lack of interest, holders began to take the initiative to adjust prices
.
At about ten o'clock, flat water copper concentrated at -100 yuan / ton, a small amount of imported flat water copper -110 yuan / ton, low price transaction improved
.
Overall, high inventories and consumption in the off-season are still inhibiting traders' willingness to receive goods, but near the change of month, the basis remains good, and the sentiment of subsequent holders to support prices should gradually strengthen
.

Today, Shanghai copper as a whole presents a volatile pattern, and the center of gravity is basically stable
.
The main reason is that the long and short sides are still showing a tangled attitude towards copper prices, and the trend of stalemate is obvious
.
However, the overall macro situation is still weak, the market risk aversion is strong, pushing up the trend of gold, and copper prices still have the risk
of falling.
Today's Shanghai copper continues to close negative, the upper pressure Bollinger mid-band, the technical surface is still bearish copper
.
In the evening, wait for the guidance of the external disk to test whether Shanghai copper can continue to stand at the 46,600 yuan / ton mark
.