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Brief review of Shanghai copper on August 7

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

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Today's morning Shanghai copper main 1809 contract opened at 49310 yuan / ton, slightly lower at the beginning of the session, to the intraday low of 49200 yuan / ton, the low rebound, bulls increased positions, copper prices fluctuated upward, noon along the 49340 yuan / ton line of a brief consolidation, the dollar retreated
.
Subsequently, the bulls continued to replenish their positions, and the copper price climbed up to a high of 49,600 yuan / ton, stopping at 50,000 yuan / ton
.
At the end of the session, short and many exits, copper prices fell slightly, closing at 49480 yuan / ton, up 100 yuan / ton
.

Shanghai copper

South Reserve East China: the average spot price of electrolytic copper was 49250 yuan / ton, down 50 yuan / ton; Liter discount quotation, 70 to 90 yuan, up 5
.
In East China, the inflow of imported copper is limited, and the tight spot supply makes the holders raise the premium shipment in the morning, but the acceptance is low, and the warehouse receipt continues to flow into the market to replenish the supply, and the transaction is acceptable after the premium falls back and stabilizes.

Today's premium copper mainstream trading pair futures contract premium 90-100 yuan, flat water copper premium 60-70 yuan, wet copper premium 20-30 yuan
.

South China Reserve: The average spot price of electrolytic copper was 49,320 yuan / ton, down 50 yuan / ton; Liter discount quotation, 130 to 170 yuan, up 10
.
In Guangdong, cargo holders continued to ship at high prices, but high premiums and weak consumption restricted transactions, resulting in a gradual decline in intraday premiums
.
Overall, today's trading is weaker than yesterday's, and good copper is out of stock, and the price performance is firm
.
Today's premium copper mainstream trading pair futures contract premium 170-180 yuan / ton, flat water copper premium 130-150 yuan / ton
.

A shares rose across the board in the afternoon, but the market still has some concerns about global economic growth, which is mainly caused by tariff agreements between the United States and other countries, so the trend of rushing higher and falling in the short term is more common, in this context, bulls enter the market and quickly withdraw, do not stay, copper prices rise weakly, currently around the 20-day moving average oscillation
.
Focus on China's July foreign exchange reserves in the evening, and Germany's June industrial output is expected to fluctuate above the daily moving average in the evening
.

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