August 28 copper market brief commentary

On Tuesday, the main contract of Shanghai copper 1910 opened at 46340 yuan / ton in the morning, opened down around 46280 yuan / ton, and then rose to around 46490 yuan / ton, and then continued to decline The center of gravity hovered around 46450 yuan / ton oscillation finishing, the center of gravity in the afternoon basically maintained around 46420 yuan / ton, and closed at 46380 yuan / ton, up 300 yuan / ton, or 0.
65%.

The average price of electrolytic copper in East China of the South Reserve: 46410 yuan, up 380, the monthly discount quotation: 60 to 80, flat
.
Shanghai copper rebounded slightly during the day, but spot rose and was unchanged
from the previous day.
In the morning, the holders actively quoted shipments, the premium was high, and the sentiment of traders receiving goods was not high
.
The market is looking for low-priced sources, and trading is slightly deadlocked
.
In the second trading session, the shipments of cargo holders increased slightly, but the market atmosphere was still weak, and the activity of traders was not high
.
Affected by the rebound of copper prices, the overall market is weak, and the characteristics of market tug-of-war are obvious
.
Copper rose 70-80 yuan for the month, down 10; flat water copper premium 50-60 yuan, flat; Wet copper premium 10-20 yuan, flat
.

The average price of electrolytic copper in South China: 46290 yuan, up 380, the month's premium quotation: -80 to -20, down 5
.
The number of morning market inquiry recipients increased, flat water copper began to report -70, -80 yuan / ton, better flat water copper low price transaction smoothly, other flat water copper to discount 80, 90 to be sold, good copper discount about
20.
Overall, the willingness to ship in the intraday market is not much, some traders have taken advantage of the low replenishment, and the better flat water copper transaction is smooth, but the overall transaction performance is still average, and the spot maintains a large discount state
.

The overall stability of the intraday market was mainly due to the slight easing of trade tensions and the weakening of market pessimism, but it is still necessary to be vigilant that the substantive issue of trade has not been resolved, and it is necessary to be vigilant about its long-term impact
on the macroeconomy.
At present, the global macro economy is still in decline, and it is difficult to boost copper prices overall, coupled with the instability of the trade situation, investors still need to be wary of the short-term impact
of news changes on copper prices.