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Copper market summary: The dollar rose to a nearly half-month high, overnight London copper closed down $74 under pressure, China's economic data is weak, industrial production downward pressure increased, weakening the demand outlook, copper is expected to fall
today.
Today's Shanghai electrolytic copper spot contract reported a premium of 70 ~ 150 yuan / ton, a flat water copper trading price of 46330 yuan / ton ~ 46370 yuan / ton, and a premium copper trading price of 46350 yuan / ton ~ 46410 yuan / ton
.
Overnight risks rose, and Shanghai copper gave up its gains during the week, and the center of gravity moved down to around
46,300 yuan / ton.
Today is the last trading day of the 1908 contract of the month, the market has fully turned to the 1909 contract quotation of the next month, according to the SMM copper price methodology, the 1908 contract is still quoted, and the spread of the next month during the morning trading session gradually widened
。 When the monthly price difference fluctuated at 90~100 yuan / ton, the market quoted the 1909 contract as a discount of 20 ~ flat water, traders have entered the market to receive goods, soon the low-price source is not available, and at the same time near 10 o'clock, the price difference in the next month expands to 110 ~ 120 yuan / ton, the holder immediately raises the quotation, flat water copper around the discount of 10 yuan / ton nearby, good copper price at the premium 10 ~ 20 yuan / ton, the spread widens the willingness of traders to receive goods weakened, and the transaction has a short stalemate
.
In the second trading session, the price difference has widened to 130 yuan / ton in the next month, and the quotation performance is stable, but the transaction is more stagnant
.
For the 1908 contract quotation, flat water copper is about 120 yuan / ton in premium, and good copper is as high as 140~150 yuan / ton
.
Wet copper to 1909 contract quotation from 40 yuan / ton discount narrowed to 20 yuan / ton, the delivery date due to the expansion of the next month price difference to the current month's quotation premium across the board, but the next month's discount quotation source is lower than the recent price level, attracting the market is more willing to receive goods, today's market transaction first up and then suppressed, or will show that the market will not continue to discount after the change of month, the quotation gradually rises or the subsequent mainstream price operation characteristics
.
