-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
On Friday, base metals continued to diverge, and the Shanghai copper 1810 contract fell under pressure to 48,580 yuan / ton, down 0.
33% on a daily basis, but bottomed out at the end of the day, cutting some of the intraday losses, indicating that its willingness to fall has declined
.
At present, Shanghai copper is still running at the intersection of the main moving averages, and the long and short trading is cautious
.
In the external market, as of 16:04 Beijing time, the three-month London copper was reported at 6058 US dollars / ton, down 0.
29% on the day, and the upper rebound resistance focused on 6200 US dollars / ton
.
In terms of spot, on August 31, Shanghai electrolytic copper spot contracts reported a premium of 80 yuan / ton - 130 yuan / ton, flat water copper trading price of 48540 yuan / ton - 48700 yuan / ton, and premium copper trading price of 48560 yuan / ton - 48720 yuan / ton
.
On the last day of the end of the month, the market funds and settlement are nearing the end, large traders no longer care about the speed of cash exchange, the premium is pulled up again, the holder quotes a premium of 100-130 yuan / ton, but unfortunately the holder is still wishful thinking, the market reaction is cautious
.
Small and medium-sized traders have shown a downward trend in an environment where there is still financial pressure
.
The ratio of Shanghai fell during the day, and the import loss was about 200 yuan / ton, which made the holders have certain expectations
for the upward rise after entering September.
Continue to pay attention to the incremental changes
in Shanghai-to-London ratio and inventory after the new month.
On the news, the Asian dollar index is weakly oscillating and is now trading around
94.
56.
China's official manufacturing PMI in August was 51.
3%, up 0.
1% month-on-month, higher than the expected 51%, and above the boom-bust line for 25 consecutive months, indicating that the manufacturing industry has generally maintained a steady expansion trend
.
Markets remain weighed down by concerns about U.
S.
-China trade talks, as U.
S.
President Donald Trump's deadline for public comment on tariffs on $200 billion of Chinese goods is September 5, and new tariffs could be implemented
later that month.
In terms of sectors, the country's copper production in the first half of 2018 rose 7.
9% year-on-year to 597249 tonnes
, the country's central bank said.
Overall, copper futures oscillated and performed weaker than other base metals, indicating that its intrinsic upward momentum is insufficient, as the market remains concerned
about the Sino-US trade war.
However, a weaker dollar in the short term and a stronger-than-expected performance of China's official manufacturing PMI in August limited the downside in copper prices
.
Operationally, it is recommended that the Shanghai copper 1810 contract is backed by 48,000 yuan to bargain hunt, and the target is 49,000 yuan / ton
.
