August 14 Copper Market Brief Review

Today's Shanghai copper main contract 1910 opened at 46860 yuan / ton in the morning, opened at a high level, and then the market fell all the way to 46710 yuan / ton, and then the center of gravity maintained a slight stability here, the afternoon plate continued to decline and between 46620-46670 yuan / ton in a narrow range of shock finishing, the end of the session continued to test lower and closed at 46580 yuan / ton, down 30 yuan / ton, down 0.
06%.

Today's Shanghai copper main contract position increased by 8,866 lots to 237,000 lots, mainly reflected in the increase in long positions, and the trading volume increased by 107,000 lots to 203,000 lots
.

South Reserve East China electrolytic copper: 46640 yuan, up 90, the monthly discount quotation: 40 to 60, up 5
.
Near delivery, the market premium rose slightly, mainly because traders were up to quote, but the market response was not strong, the trading atmosphere was weak, the morning quotation premium was 50 yuan / ton, the two sides were deadlocked, and the market was wait-and-see
.
At about ten o'clock, the holders were forced to lower the premium, the transaction improved slightly, the premium stabilized at about 40 yuan / ton, and some traders had a small number of low-priced supplies
.
With copper prices falling intraday and the basis widening the next month, the premium quotations of flat water copper and good copper rose slightly again
.
Today's traders are strongly willing to hold prices, and the overall transaction is relatively light
.
Copper rose 50-70 yuan for the month, up 5; flat water copper premium 30-50 yuan, up 5; Wet copper flat water 0-liter water 10 yuan, flat
.

South China Reserve South China electrolytic copper: 46540 yuan, up 70, the month's premium quotation: -100 to 0, down 10
.
Upcoming month-change, spot large discount to attract traders into the market inquiry, the overall atmosphere is more positive, in the morning flat water copper -70 to -100 yuan / ton, the supply of South Reserve is relatively small, the quotation is high
.
However, traders are not in a hurry to enter the market to receive goods, cautious wait-and-see sentiment, flat water copper at a low price of -100, -90 yuan / ton transactions
.
After ten o'clock, there were more and more consignees in the market, and after the low-priced source of goods was consumed, the holders began to sell at a high price, and the flat water copper discount narrowed to about
-80 yuan / ton.
Good copper quotations are rare, heard of the report -10 yuan / ton
.
Overall, the basis is favorable for traders to receive goods, speculation willingness has increased, market sentiment has changed from cautious in the morning to positive receipt, the discount has also narrowed, and the trading atmosphere has improved
compared with yesterday.

Today's Shanghai copper closed the sun, the upper shadow broke through the Bollinger mid-band, but the power is insufficient, the MACD indicator is still a green column, and the technical picture is difficult to say positive
.
In the evening, wait for the guidance of the external market to test whether Shanghai copper can continue to stand at the 46,600 yuan / ton mark
.