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    Home > Chemicals Industry > New Chemical Materials > August 19 Shanghai copper morning review

    August 19 Shanghai copper morning review

    • Last Update: 2022-12-03
    • Source: Internet
    • Author: User
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    Overnight, the Shanghai copper 1610 contract opened high at 37480 yuan / ton, after the opening of the long position to hedge, copper price all the way down to 37260 yuan / ton, and then short position reduction drove copper prices to stabilize, and the end of the day again pulled back.

    Finally, Shanghai copper closed at 37290 yuan / ton, up 60 yuan / ton
    .
    Overnight, Shanghai copper opened high and low, under pressure of 37500 yuan / ton line, fell below the 10-day moving average support, it is expected that Shanghai copper will run
    within 37200 yuan / ton to 37600 yuan / ton today.

    Shanghai copper

    Spot: On August 18, Shanghai electrolytic copper spot reported a discount of 60-liter water 20 yuan / ton, and the transaction price of flat water copper was 37120-37200 yuan / ton
    .
    Shanghai copper delivery volume is large, the delivery source gradually flows out, the willingness of holders to exchange goods is strong, and the spot premium is stable and slightly falling
    .
    In the morning, good copper mostly to Guixi copper quotation premium 20 yuan / ton, the shipper shipment mentality unchanged, the center of gravity of the premium water shifted, good copper reported flat water - 10 yuan / ton, downstream is still waiting, waiting for more delivery goods to flow in, expand the optional range
    of low-discount copper.

    Stocks: As of August 12, the previous Shanghai copper inventory reported 174563 tons, an increase of 9,324 tons from last week, still lower than the average inventory value of 256613 tons
    during the year.

    Overnight, the main Shanghai copper contract opened high and low to 37290 yuan / ton, but the US dollar index still fell under pressure, and crude oil futures oscillated strongly, the short-term copper market lacked focus, and funds continued to leave the market, making copper prices light
    .
    It is recommended that the Shanghai copper 1610 contract is still backed above 37,000 yuan, and it is prudent to hold long
    .

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