Brief review of the copper market on August 1

Wednesday Shanghai copper main contract 1909 opened at 46850 yuan / ton in the morning, after the opening of the center of gravity basically maintained around the daily moving average oscillation, until the noon center of gravity moved up to 46910 yuan / ton around the shock finishing, the afternoon opening center of gravity position is basically unchanged, as of the close of the plate slightly declined, the end of the session closed at 46720 yuan / ton, down 500 yuan / ton, down 1.
06%.

South Reserve East China electrolytic copper: 46840 yuan, down 460, the month's premium quotation: 30 to 60, up 10
.
Shanghai copper plate gave up the previous day's gains, the morning premium price immediately rose slightly, the trading atmosphere also improved slightly, there was no sharp price adjustment phenomenon, flat water copper transaction price maintained at 20-30 yuan / ton, the receiver favored the low-price source, but some holders shipped at a high price, reporting a premium of 40 yuan / ton; Good copper prices have also increased slightly, but remain stable
.
The premium price at the end of the month is still stable, the overall atmosphere is still the same, the activity is weak, and the market transaction situation is average
.
The premium copper is 50-60 yuan for the current month, which is flat; Flat water copper premium 20-30 yuan, flat; Wet copper discount 20-10 yuan, flat
.

South China Reserve South China electrolytic copper: 46730 yuan, down 460, the month's premium quotation: -100 to -40, up 15
.
Shanghai copper fell back overnight, and the downstream liquidity is expected to ease in August, and the sentiment of holders is prominent, and they are unwilling to ship at a large discount
.
In the morning, flat water copper began to report -90, -100 yuan / ton, good copper -40 yuan / ton, the overall quotation is rare, especially good copper
.
Traders enter the market to take advantage of the low enthusiasm for receiving goods, but they are also cautious about the narrowing of the discount, just when some holders cut the price discount of 120 yuan to ship, and the transaction
was completed quickly.
After ten o'clock, the enthusiasm for receiving goods in the market has not changed, but the supply is difficult to find, some flat water copper has reported -90 yuan / ton, and the overall discount has a tendency
to narrow.
Overall, there is still a lack of bright spots on the consumer side at the end of the month, but the spot discount boosts traders' willingness to receive goods, and today's supply is greatly reduced, supporting the narrowing of the discount
.

At present, the twelfth round of Sino-US consultations is basically over, the trade outlook is still uncertain, the market is again nervous, and the overall performance of copper prices is low and volatile
.
Continued attention to the outcome of the Fed's interest rate decision will guide copper prices
.