 Home > Chemicals Industry > New Chemical Materials > August 25 Shanghai copper morning review

August 25 Shanghai copper morning review

 Last Update: 2022-12-03
 Source: Internet
 Author: User

Tags

copper recycling prices

high pressure water cannon

Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

Overnight, the Shanghai copper 1610 contract opened sharply lower at 36530 yuan / ton, after the opening bulls want to test the intraday low, then by the strong pressure of the bears to dive quickly, then the bulls collapsed, Shanghai copper reduced positions downward, some bears took profits at the end of the day, copper prices slowed
down.
Finally, Shanghai copper closed at 36100 yuan / ton, down 730 yuan / ton, and the warehouse increased by 1006 lots
.
Overnight, Shanghai copper broke down again, straight to the 36,000 yuan / ton mark, breaking through the 40-day weekly line and the lower band support of the Bollinger Band, and it is expected that today's Shanghai copper fluctuated
at a low level of 36,000 yuan / ton to 36,400 yuan / ton.

Shanghai copper

Market: On August 24, Shanghai electrolytic copper spot reported a discount of 50-liter water 10 yuan / ton, and the transaction price of flat water copper was 36650-36760 yuan / ton
.
The influx of downhill buying led to a rise
in copper premiums.
Holders continued to offer wet copper, giving downstream and speculative traders a priority to sourcing flat copper
.
Today's trading is more active, in addition to downstream dip buying, middleman speculative buying is also rising, and spot premiums are expected to rise
steadily.

The main Shanghai copper contract plummeted to 36,100 yuan / ton under pressure overnight, as China's July copper import demand fell and exports increased, while London copper inventories have risen sharply in recent days, increasing supply pressure
on the copper market.
It is recommended that the Shanghai copper 1610 contract change the operation idea, it is recommended to back at a high altitude below 36800 yuan, enter the market reference around 36500 yuan, and target 35800 yuan
.

This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

Related Products

9,10-Diphenylanthrac

CAS No.: 1499-10-1

$1-1.2/MT FOB

High Quality Polar Solvent 99.99% Ethylene carbonate/Ethylencarbonat/ EC CAS 96-49-1

CAS No.: 96-49-1

Pharmacy Grade

$1-1.2/MT FOB

High quality Fluorescent Brightener CBS-X 98% TOP1 supplier in China

CAS No.: 27344-41-8

Industrial Grade

$3/KG EXW

Hot Tags

united states jobs(223)

jobs united states(236)

1 year treasury(277)

1 year subscription(296)

single use technology(195)

announcements today(81)

ups united states(221)

united states logo(227)

80 20 company(94)

healthy food name(42)

Hot Articles

The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.