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Trade Service
On Monday, the Shanghai copper main 1809 contract was volatile, closing at 49,300 yuan, up 0.
14%.
The trading volume of the Shanghai Copper Index increased by 152,000 lots to 499,000 lots, and the position decreased by 6,268 lots to 570,000 lots
.
The top 20 domestic long positions in the Shanghai copper 1809 contract increased their holdings by 180 lots to 46733 lots; The top 20 domestic positions increased their short positions by 126 lots to 54188 lots
.
In terms of the market, Shanghai electrolytic copper spot contract reported a premium of 50 yuan / ton ~ 90 yuan / ton, a flat water copper trading price of 49250 yuan / ton ~ 49330 yuan / ton, and a premium copper trading price of 49280 yuan / ton ~ 49350 yuan / ton
.
In the spot market, the premium remained stable, the holders maintained a further price trend, and traders inquired actively, but the downstream procurement was limited, and the overall transaction situation was average
.
In terms of stocks, as of August 3, LME copper stocks were 250625 tons, down 825 tons from the previous day; Comex copper stocks decreased by 517 tonnes to 203609 tonnes; As of August 6, copper stocks in the previous period were 83,357 tons, down 4,701 tons
from the previous trading day.
Industry news, recently, the China Automobile Dealers Association released data showing that in June, China's automobile imports were 15,000 units, down 87.
1% year-on-year, a huge decline; From January to June, the cumulative number of vehicles imported was 452,000 units, down 22.
1%
from the same period last year.
Wang Cun, director of the Import Car Committee of the China Automobile Dealers Association, said that the decline in imported cars in the first half of the year was relatively rare
in history.
Unlike the sharp decline in imports in the past, when destocking, this year's inventory is at a reasonable level, and the decline in imports is mainly affected
by tariff policies.
From a fundamental point of view, the Escondida strike is still the biggest disruption on the supply side, and the outcome of the current negotiations is still relatively uncertain, and the pending decision is still positive for copper prices
.
In addition, the continued depletion of refined copper stocks supported copper prices
.
However, the development of the trade war situation will continue to suppress the strength of the copper price rebound
.
It is expected that the short-term copper price will continue to fluctuate, with the main fluctuation range of 49,000-50,000 yuan
.
FYI
.
