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August 9 Copper Market Afternoon Review

 Last Update: 2022-12-16
 Source: Internet
 Author: User

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Copper market summary: production cuts are expected to boost oil prices to rebound higher, overnight London copper was shocked to close up $34, China's copper imports in July jumped month-on-month, indicating that the demand side is still improving, and copper is expected to continue to rise
today.

Copper City

Today's Shanghai electrolytic copper spot contract reported a premium of 40 ~ 80 yuan / ton, a flat water copper trading price of 46550 yuan / ton ~ 46650 yuan / ton, and a premium copper trading price of 46570 yuan / ton ~ 46670 yuan / ton
.
Copper continued to rise slightly to 46,500 yuan / ton
.
Morning market quotation premium 60 ~ 90 yuan / ton, inventory increase, market consumption is weak, trade market activity is also difficult to increase, spot market buying is weak, spot quotation stalemate for many days after the quotation finally loosened, good copper quotation reduced to premium 60 ~ 70 yuan / ton transaction to improve, flat water copper quotation as low as 40 ~ 50 yuan / ton, but buying is still very little, individual holders ship for cash eagerness, quotation can also be pressed; The supply of wet copper was not relaxed, and the quotation remained stable
.

Copper prices have rebounded from a low level, the future market trend is not clear, spot consumption is weak, trade profit margins are lacking, so that the willingness to receive goods is seriously lacking, the transaction is not strong, and the initial characteristics of oversupply are obvious
.
Next week will enter delivery, the premium may be suppressed, and the increase in inventory will increase the willingness to cash out
.

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