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    Home > Chemicals Industry > New Chemical Materials > Brief review of Shanghai copper on October 30

    Brief review of Shanghai copper on October 30

    • Last Update: 2022-12-13
    • Source: Internet
    • Author: User
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    Today's Shanghai copper main 1812 contract opened at 49740 yuan / ton in the morning, the beginning of the session copper price along the 49700 yuan / ton wide finishing, during the period of many touched 49620 yuan / ton are strongly supported, before the afternoon of the Asian market, the low bulls brought in positions, short profits exited, copper prices fluctuated
    upward 。 In the afternoon, copper prices quickly climbed 49890 yuan / ton blocked, again up 49880 yuan / ton failed, London copper weakened, Shanghai copper bulls took a high profit exit, short positions entered, copper prices slowly oscillated downward, the end of the day along the 49690 yuan / ton narrow range, closed at 49700 yuan / ton, down 200 yuan / ton, down 0.
    4%.

    Shanghai copper

    South Reserve East China: average price of electrolytic copper: 49530 yuan, down 330, premium quotation: -100 to -70, up 30
    .
    In East China, the basis narrowed in the next month, the holders shipped at high prices, the discount began to shrink, the market fell last week and then fluctuated sideways, the willingness to enter the market downstream to purchase increased, the market trading atmosphere warmed up, and the overall transaction was acceptable
    .
    The mainstream trading of premium copper is 70-80 yuan for futures contracts of the month (next month's pass), 100-110 yuan for flat copper and 180-200 yuan for wet copper
    .

    South China Reserve: average spot price of electrolytic copper: 49450 yuan, down 360 yuan, premium quotation: -170 to -140, up 5
    .
    In Guangdong, due to the recent weakening of copper prices and a significant slowdown in the upward trend of inventories, holders continued to narrow discount shipments in the morning, and the price of flat water copper was discounted -160 yuan / ton, but the market atmosphere at the end of the month was flat, and there was no downstream bargain hunting, and the poor transaction forced the flat water copper discount to expand
    slightly.
    The premium copper mainstream trading discount for futures contracts in the month is 140-150 yuan / ton, and the flat water copper discount is 170-180 yuan
    .

    Today's Shanghai copper main center of gravity raised to near the middle rail of the Bollinger track, directly under pressure on the 20-day moving average, KDJ opening tends to be horizontal, pay attention to the performance of long and short positions in the evening, pay attention to the performance of copper prices on Bollinger track, wait for external guidance, and test whether the center of gravity of Shanghai copper can continue to hold 49890 yuan / ton
    in the evening.

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