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On Wednesday, the Shanghai copper daily session maintained a low operation, the decline narrowed at the end, the main month 1901 contract opened at 49750 yuan / ton, the highest intraday 50000 yuan / ton, the lowest 48740 yuan / ton, settled 49390 yuan / ton, closed 49400 yuan / ton, down 390 yuan, down 0.
78%.
The trading volume of the main 1901 contract of Shanghai copper increased by 145478 lots to 346060 contracts throughout the day, and the position increased by 1248 to 186594 lots
.
In terms of the market, Shanghai spot copper quotations were at 49290-49430 yuan / ton, down 470 yuan / ton, for 1812 contracts, up 60 yuan / ton - 130 yuan / ton
.
The market transaction improved during the day, the wet supply was tightly balanced, and the price of good copper was loosened compared with previous days, but the wet price was firm, and the low price of wet method could be seen during the intensive trading period, and then it has been maintained at about 130, and the price is expected to continue to remain firm
in the afternoon.
Recently, Jiangxi Copper Co.
, Ltd.
, the leader of China's copper industry, reached a long-term agreement price for the world's copper processing fee in 2019 with Chilean mining companies
.
According to Jiangxi Copper Industry Co.
, Ltd.
, a few days ago, the company reached an agreement with Chilean mining company Antofagasta on behalf of major domestic copper companies, agreeing to reduce the processing and refining fees (TC/RCs) of copper in 2019, and the reduced price was $80.
80 per ton and 8.
08 cents per pound, down $1.
45 per ton from 2018
.
This is the fourth consecutive year of declines in the long-term agreed price of copper refining fees, which reached a high of
$107 per tonne in 2015.
It is reported that China is currently the world's
largest copper consumer.
Over the years, the China Copper Raw Materials Joint Negotiation Group (CSPT), represented by Jiangxi Copper Industry Co.
, Ltd.
, has negotiated and determined the long-term agreed price of copper processing fees for the next year with representatives of international copper mining enterprises, which directly determines the global copper processing fee price for the next year
.
Intraday Shanghai copper 1901 contract affected by the sharp fall in crude oil plunge sharply down, then closed higher, the tail market closed at 49410 London copper 6000 US dollars supported by the continuation of the rebound, short-term continue to be bullish, inventory continues to decrease, for spot, it is recommended to fall sharply to buy spot or the wisest, no position can take more orders, there are many orders to continue to hold
.
