August 6 Copper Market Brief Review

Today's Shanghai copper main contract 1909 opened at 46090 yuan / ton in the morning, after the opening of the day to test the lowest level of 45970 yuan / ton, after the low rebound, continue to maintain the upward trend to 46140 yuan / ton, then the center of gravity of the plate basically maintained at 46120 yuan / ton until the end of the afternoon, the afternoon opening continued to rise, up to the highest level of the day 46240 yuan / ton, the end of the session fell slightly and closed at 46150 yuan / ton, up 200 yuan / ton, or 0.
44
。

The average price of electrolytic copper in East China of the South Reserve: 46110 yuan, up 200, the monthly discount quotation: 50 to 80, down 10
.
Shanghai copper plate rebounded slightly, the spot market was not greatly affected, and the morning premium quotation was basically the same as yesterday's situation; Holders want to raise the price slightly, but the wait-and-see mood of traders makes the transaction price gradually lower, and the price of flat water copper premium 60 yuan / ton gradually won the favor of traders, and then the flat water copper quotation remained in the range of 50-60 yuan / ton; The price of good copper remained at the first line
of 80-90 yuan / ton.
Although Shanghai copper rebounded, copper prices remained low to promote consumption
.
Today's market conditions are roughly the same as yesterday's, but activity and transaction prices have decreased
slightly.
The premium copper was 80-90 yuan for the month, flat; flat water copper premium 50-60 yuan, flat; Wet copper premium 10-20 yuan, up 5
.

The average price of electrolytic copper in South China: 46020 yuan, up 210, the monthly discount quotation: -60 to 10, down 10
.
Shanghai copper rose slightly from yesterday, while the spot market atmosphere was slightly quiet, in the morning flat water copper mainstream reported -50 yuan / ton, good copper + 10 yuan / ton, good copper supply is still not much, began to be traded at +10 yuan / ton, and flat water copper has room to continue to press prices
.
In order to seek transactions, some holders took the lead in adjusting the price to -60 yuan / ton, but with the concentration of flat water copper at -60, the transaction fell into a stalemate again, and traders wanted -70 to close flat water copper
.
Overall, copper prices have rebounded, downstream market purchases are general, traders buy less flat water copper at low prices, the discount range is not attractive, and the overall receiving sentiment is not positive
enough.

Today's overall performance of Shanghai copper prices rose slightly, mainly maintained near the 46,000 yuan / ton mark, mainly because the current RMB continues to continue to be weak, to Shanghai copper to form a support, copper prices have not continued to fall in recent days, but the current Sino-US trade relations are still tense, to further pay attention to the situation changes, will form a guide
to copper prices.