-
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 Wednesday, base metals were mixed, and some bulls gradually took profits and left the market, indicating that copper prices fell back and the enthusiasm of funds to enter the market increased
.
Among them, Shanghai copper fluctuated at a high level, and the trading range of 1811 contracts was 50820-50390 yuan / ton, and closed at 50530 yuan / ton at the end, up 0.
7%
per day.
In the external market, as of 15:21 Beijing time, the three-month London copper was reported at 6291.
0 US dollars / ton, up 0.
17% on the day, and its upper pressure level was focused on 6400 US dollars / ton
.
In terms of spot, on September 26, Shanghai electrolytic copper spot reported a discount of 40 yuan / ton - 50 yuan / ton for the monthly contract, and the transaction price of flat water copper was 50,630 yuan / ton - 50,700 yuan / ton
.
Shanghai copper along the 50,700 yuan / ton a narrow finishing, close to the holiday, holders hedging inventory, morning market quotation premium 10-liter 50 yuan / ton, but the holder showed a clear selling sentiment, in the case of concentrated trading of dumping, flat water copper fell to a discount of about
20 yuan / ton.
In the second trading stage, there was another tide of price reduction, and the market quotation was fully discounted, and the flat water copper quotation was discounted by more than
40 yuan / ton.
Downstream consumption is still cautious, there is no concentrated replenishment before the holiday, and buying is very limited
.
The copper plate is high, the basis of the next month is still in the range of 130-150 yuan / ton, there are only 3 trading days left before the holiday, the willingness to exchange cash is still dominant, and the discount is still likely
to expand.
In terms of news, the Asian market dollar index continued to fluctuate, now trading around 94.
116, the market is generally concerned about the Fed's interest rate hike decision at 02:00 Beijing time on Thursday (September 27), it is expected that the probability of interest rate hike is higher, or the dollar index will fluctuate steadily
.
On the industry front, Chile's state-owned copper miner Codelco entered into a copper supply contract with a Chinese customer for physical delivery at a
physical delivery price of US$88 per ton at a premium to the LME price.
Last year's contract was signed at a premium of $
75 per tonne.
During the day, copper showed high volatility
.
Although the holders still have a trace of expectation for consumption before the National Day holiday, which makes supply and demand a slight tug-of-war, the risk aversion before the holiday also increases the number of cash exchangers
.
On the technical side, the futures price showed a retreat after opening high, although it is still above 50,000, but it is expected that the US dollar interest rate hike decision may have a certain impact
on copper prices.
Operationally, it is recommended that the Shanghai copper 1811 contract can consider selling high and low between 50,000-51,000 yuan, and stop loss 300 yuan / ton
.
