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Today's morning Shanghai copper main 1810 contract opened at 49820 yuan / ton, short positions increased at the beginning of the session, long night market entry, morning profit taking, copper prices quickly fell to the intraday low of 49380 yuan / ton, then a small number of short positions to reduce positions, copper price center of gravity slightly moved up to 49530 yuan / ton a line of shock operation
.
In the afternoon, the outer market fell first, the internal market was short and positioned, copper prices were affected down to 49410 yuan / ton, the low rebound shocked upward, touched 49650 yuan / ton, the end of the session short more exit, slightly down, closed at 49520 yuan / ton, up 160 yuan / ton
.
South Reserve East China: the average spot price of electrolytic copper was 49480 yuan / ton, down 80 yuan / ton; The price of the premium is 20 to 60 yuan, down 15 yuan
.
In East China, the activity of the market near delivery is not high, the holders slightly lowered the premium shipment in the morning, but the monthly difference remained at a narrow level, buyers waited for the change of month after the premium fell back, there were not many receivers in the market, the overall transaction was not smooth, buyers continued to have room for price reduction, but some holders said that there was not much inventory and no price
adjustment.
Today's premium copper mainstream trading pair futures contract premium 50-60 yuan, flat water copper premium 20-30 yuan, wet copper discount 10-20 yuan
.
South China Reserve: The average spot price of electrolytic copper was 49,570 yuan / ton, down 60 yuan / ton; Liter discount quotation, 110 to 150 yuan, up 5
.
In Guangdong, early holders still want to ship at a high price, but the change of month is close and the basis of the next month is not large, which makes the downstream receiving of goods weak; Subsequently, many holders took the initiative to lower their premium shipments, but the transaction was still not good
.
Overall, today's trading is relatively quiet, and the price of good copper is firm due to the shortage of stock, and the price difference with flat water copper has widened
.
The premium copper mainstream trading pair futures contract premium 150-160 yuan / ton, flat water copper premium 100-120 yuan / ton, wet copper premium 80 yuan / ton
.
Shanghai copper closed down again today, giving up all of yesterday's gains, and the 20-day moving average support weakened
.
The growth rate of the dollar index slowed down, maintaining a high around 96.
3
.
The offshore yuan hit a new low today, falling as low below 6.
9 and currently oscillating
at 6.
88.
Domestic economic data performance is worrying, China's industrial added value above designated size in July was unchanged from June year-on-year, the retail growth rate of 0.
6% of the home appliance industry fell by nearly 10% from the previous month, the automotive industry had negative growth for three consecutive months, and the overall consumption declined
.
In the short term, domestic fundamentals are difficult to support the upward
rush of copper prices.
In the evening, pay attention to the preliminary value of Eurozone GDP in the second quarter year-on-year, expect general, pay attention to external guidance, and expect a narrow range of 49,500 yuan / ton in the evening
.
