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Copper Market Summary: Trump's optimistic comments on the outlook for trade talks eased market panic, Shanghai copper rebounded overnight, China's July scrap copper imports fell sharply, or spurred refined copper consumption, copper is expected to rise
today.
Today's Shanghai electrolytic copper spot contract reported a premium of 60 ~ 100 yuan / ton, the trading price of flat water copper was 46360 yuan / ton ~ 46500 yuan / ton, and the trading price of premium copper was 46380 yuan / ton ~ 46540 yuan / ton
.
The London copper market opened stable at 5650 US dollars / ton line, and Shanghai copper opened low and high to 46400 yuan / ton line, an increase of nearly 400 yuan / ton
.
The morning market continued yesterday's quotation, next month's invoice morning market quotation premium 60 ~ premium 80 yuan / ton, the transaction obviously showed stalemate characteristics, good copper holders lowered the quotation shipment, around the premium 70 ~ premium 80 yuan / ton line, flat water copper holders continue to show persistence, around the premium 60 yuan / ton nearby, a small amount of goods can be as low as 50 yuan / ton; Wet copper insists on a premium of around
30 yuan/ton.
The difference between the current month's invoice and the next month's invoice is still 10~20 yuan / ton, and the good copper of the month is maintained at 90~100 yuan / ton of premium, and the flat water copper is around 70 yuan / ton, but as the end of the month approaches, the demand for the monthly invoice gradually fades
.
Holders showed that their willingness to hold prices remained unchanged, but the recovery of copper futures inhibited the willingness of the market to buy, and the actual transaction was
deadlocked.
Today's import profit window has opened, focusing on the performance of
imported copper.