-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
On Monday, the main Shanghai copper contract opened as low as 42,020 yuan / ton, and the opening fell slightly and briefly due to the increase in short positions, and then the bulls successively increased their positions to push up copper prices, climbing all the way to the highest point of the day at 42,630 yuan / ton
.
Immediately after the bulls left the market at the high, copper prices fell, closing at 42510 yuan / ton
at midday.
At the opening of the afternoon, copper prices fluctuated slightly, slowly rising to 42590 yuan / ton and then turned down, near the close, more flat into the pressure copper price fell rapidly, closing at 42330 yuan / ton, up 130 yuan / ton, up 0.
31%.
In the external market, Apanlon copper opened at 5197.
5 US dollars / ton, stimulated by the domestic LPR 1-year and 5-year interest rates after the opening, market sentiment was boosted, and it reached 5248 US dollars / ton in the morning and maintained a high level above the daily moving average
.
After entering the European session, due to the sharp plunge in the contract price of U.
S.
crude oil in the same month, the copper price fell down to 5202.
5 US dollars / ton, and it was still supported by supply disturbances and domestic destocking near the 5200 mark
.
As of 17:30, London copper closed at $5217.
5/mt, up 0.
14%.
In terms of the market, Shanghai copper opened low and went high above 42,600 yuan / ton
.
The morning market spot quotation continued last Friday's quotation, good copper quotation premium 150 ~ premium 170 yuan / ton, the high rise in copper made the market rarely traded, the market willingness to receive goods is low, the holder has no choice but to reduce the quotation, adjust to 140 ~ premium 150 yuan / ton
.
After half past ten, the price of flat water copper can be pressed to 130-135 yuan / ton, some brands of good copper quotation premium 140 yuan / ton, wet copper with the market down, the quotation from the morning rise of 120 ~ to about 100 yuan / ton
.
Monday copper rose sharply, the market trading atmosphere is cautious, trade and downstream willingness to receive goods is weak, the market on Monday is still more cautious, holders are unwilling to overly actively reduce the level of water quotations, downstream is afraid of higher than the continuous rebound of copper prices, only traders continue to become the main body of trading, supply and demand continue to tug of war
.
The main force of Shanghai copper rose sharply during the day, mainly due to the sharp drop in the quotation rate (LPR) of China's central bank loan market today to alleviate the impact
of the epidemic on China's economy.
The 1-year and 5-year LPR were lowered by 20 and 10 basis points respectively from the previous period, and the 1-year LPR fell to 3.
85%, which is a major positive news for the real economy and capital market, effectively boosting market confidence and promoting copper prices to rise
sharply.
Fundamentally, the market's worries about tight copper supply are unabated
.
A few days ago, Brazilian mining company Vale said in a document that it lowered its 2020 copper production forecast from 400,000 tons to 360,000-380,000 tons
.
Copper prices are supported by both macro and fundamentals
.
At present, the main force of Shanghai copper has broken through the 40-day moving average
.
