August 21 Copper Market Brief Review

On Tuesday, the main contract of Shanghai copper 1910 opened at 46630 yuan / ton in the morning, the opening was the lowest 46580 yuan / ton in the day, and then the plate rose back to 46660 yuan / ton around the shock finishing, the center of gravity continued to test the highest level of the day after maintaining stability for a period of time at 46710 yuan / ton, the afternoon opening copper price slipped again from the high, the shock fell down to around 46650 yuan / ton, near the close of the center of gravity continued to move down, closing at 46620 yuan / ton, up 150 yuan / ton, up 0.
32%
。

The average price of electrolytic copper in East China of the South Reserve: 46680 yuan, up 220, the price of the month's discount: 50 to 80, up 10
.
Shanghai copper jumped upward, the high fluctuated slightly, spot holders continued to hold prices, shipments positive, but the market performance was flat, and the cautious attitude did not completely subside
.
Receivers are still on the sidelines, and the transaction will be slightly smoother
after a small price adjustment.
Good copper quotes remained firm and continued to rise
.
After the change of month, the market transaction situation was relatively stable, and the premium maintained an upward trend
.
Copper rose 70-80 yuan for the month, up 10; flat water copper premium 50-60 yuan, up 10; Wet copper premium 10-20 yuan, flat
.

The average price of electrolytic copper in South China of the South Reserve: 46550 yuan, up 190, the monthly discount quotation: -110 to -30, down 25
.
The morning market inquiry atmosphere is active, but most of them want to ship, flat water copper began to report -90, good copper -20
.
With the increase in shipments, the holders began to take the lead in reducing prices to pursue transactions, and Pingshui Copper Discount 100 had some transactions, but soon fell into a stalemate, and the receivers wanted to continue to reduce prices
.
After ten o'clock, flat water copper concentrated on -110, some sources of actual transaction discount to drop to -120 or so, good copper price divergence, supply increased compared with the previous day, demand is still less, can discount 30 transactions, but also heard that there is a discount more transaction price
.
Overall, warehouse receipts want to flow into the market, while downstream on-demand procurement, supply easing pressure increases, resulting in spot discount continuing the downward trend, and the overall trading is not smooth
.

The center of gravity of Shanghai copper in the daily market remains basically unchanged, mainly because there is no obvious guidance at the macro news level, the long and short sides are currently in a stalemate and tug-of-war, copper prices fluctuate to maintain stability, but it is still necessary to be vigilant against the current situation of trade turmoil and economic slowdown, and the probability of Shanghai copper falling is still large
.