-
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 Thursday, base metals generally fell, and some long funds gradually left the market; It shows that copper prices have fallen, and the enthusiasm of bears to enter the market has increased
.
Among them, the Shanghai copper shock weakened, the 1811 contract trading range was 50930-49760 yuan / ton, and closed at 49980 yuan / ton at the end of the day, down 1.
42%
。 In the external market, as of 15:44 Beijing time, the three-month London copper was reported at 6170.
5 US dollars / ton, down 0.
76% on the day, and the support level below it focused on 6100 US dollars / ton
.
In terms of the market, on October 11, Shanghai electrolytic copper spot reported a discount of 10 yuan / ton - 50 yuan / ton for the contract for the month, the transaction price of flat water copper was 49900 yuan / ton - 50180 yuan / ton, and the transaction price of premium copper was 49930 yuan / ton - 50200 yuan / ton
.
The financial commodity market was green during the day, the Shanghai copper gap opened low and fell sharply, and fell below the 50,000 mark again, and the price spread continued to narrow the next month, the spread was concentrated at 60-70 yuan / ton, the import window was closed, and the loss was 600-700 yuan / ton
.
Downstream in the market fell sharply, the willingness to enter the market replenishment greatly improved, active buying increased significantly, in the second trading session, flat water copper has been raised to 20 yuan / ton, good copper quotation premium 40-50 yuan / ton, wet copper followed suit, steadily rising at the discount of 60 yuan / ton - discount 30 yuan / ton
.
Macro bearish factors are still the same, copper prices under pressure to decline, but spot in the autumn October expectations are still strong, only 2 trading days from delivery, the next month inverted basis continued to correct the pattern, pay attention to import profit and loss performance, if imports continue to lose, spot or will continue to show a rising pattern
.
In terms of news, the Asian dollar index is weak, now trading around 95.
305, the recent rally of the pound and the euro offset the impact of the rise in U.
S.
Treasury yields, putting some pressure on the dollar index, and the fall in U.
S.
stocks also prompted the dollar index to fall
.
On the industry front, mining company Atalaya Mining said it raised its 2018 copper production forecast to 39,000-41,000 tonnes, compared with its previous estimate of 37,000-40,000 tonnes
.
Copper production at the Proyecto Riotinto mine in the third quarter exceeded expectations, reaching 11,055 tonnes
.
Cash operating costs for the third quarter of 2018 are expected to be slightly lower than the previous range
.
During the day, copper futures showed a volatile weaker, as the impact of the general decline in global equity markets increased doubts about the gloomy macroeconomic outlook and copper demand growth
.
On the technical side, the futures price fell below the 50,000 mark again, the MACD indicator red bar narrowed, and the copper price may be adjusted in the short term
.
Operationally, it is recommended that the CU1811 contract can consider selling high and low between 49500-50500 yuan / ton, and the stop loss refers to 300 yuan / ton
.
