August 27 Copper Market Brief Review

On Monday, the main contract of Shanghai copper 1910 opened at 45980 yuan / ton in the morning, and the opening fell to the lowest level of the day of 45840 yuan / ton, and then immediately rebounded to around 46060 yuan / ton until the end of noon, the center of gravity continued to maintain stability at this position in the afternoon, until the close, closing at 46020 yuan / ton, down 290 yuan / ton, or 0.
63%.

The average price of electrolytic copper in East China of the South Reserve: 46030 yuan, down 280, the price of the month's premium: 60 to 80, down 10
.
Affected by the worsening of Sino-US trade frictions over the weekend, the Shanghai copper plate fell below 46,000 yuan / ton
.
Towards the end of the month, holders actively shipped, and market activity improved slightly
.
The morning market quotation is mainly the following monthly pass, and the next monthly ticket quotation is about 60 yuan / ton of premium, and the price is relatively stable; In the second trading session, the mainstream premium fell slightly; Good copper quotations were also revised
down from the previous day.
There was no significant change in the source of goods in circulation during the day, and the market trading performance was stable, and the transaction was mainly the following monthly tickets, the transaction of monthly tickets was relatively light, and there was little change in the premium plate
.
The premium copper was 80-90 yuan for the month, flat; flat water copper premium 50-60 yuan, down 10; Wet copper premium 10-20 yuan, down 10
.

The average price of electrolytic copper in South China: 45910 yuan, down 270, the month's premium quotation: -70 to -20, up 5
.
At the beginning of the week, Guangdong copper inventories recorded a decline, with a large decline, and Shanghai copper continued to fall, and holders once again pushed up prices
.
In the morning, the market is mainly quoted for monthly passes, Pingshui copper is reported at -50, -60 yuan / ton, traders are generally willing to enter the market to receive goods, the acceptance of the narrowing of the discount is low, and the transaction is temporarily difficult
.
Soon the holders began to lower the quotation to pursue the transaction, flat water copper can be -70, -80 yuan / ton transaction, good copper at -20 yuan / ton transaction; Due to the shipment of large households, the price of good copper has fallen
.
Overall, the market is weak and lacks external guidance, demand at the beginning of the week did not take advantage of the low positive improvement, and the shipment of cargo holders is still not smooth
.

The intraday market continued to maintain a low level of volatility, mainly due to the continued deterioration of trade tensions, strong risk aversion in the market, CMX gold hit a new five-year high of 1565 US dollars / ounce, the US dollar is still relatively high, and non-ferrous metals are also suppressed
.
Market pessimism spread, and copper prices hovered
low below the daily moving average all day.