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On Monday, Shanghai copper was strong, the main monthly 1812 contract opened at 50420 yuan / ton, the highest intraday 50580 yuan / ton, the lowest 50180 yuan / ton, settled 50370 yuan / ton, closed 50510 yuan / ton, up 540 yuan, or 1.
08%.
In the external market, Apanlon copper fluctuated upward, at 15:00 Beijing time, the quotation was 6261.
5 US dollars / ton, up 39.
5 US dollars, or 0.
63%.
In terms of the market, the price of domestic spot copper rose, and the price of Yangtze River spot 1# copper was 50510 yuan / ton, up 490 yuan, and the premium was 40-60; Shanghai spot 1# copper price was 50490 yuan / ton, up 460 yuan / ton
.
In the spot market, holders have returned to the price situation, and the downstream is facing rising prices and rising water adjustments, and the willingness to inquire is not high, and the transaction is just
demanding.
On the macro front, stimulated by Italy's official response to the news that the EU will not change the existing budget plan, the euro weakened, the dollar rebounded, and the colored sector retreated
.
Copper for March on the London Metal Exchange closed up 0.
10% at $6228.
5 a mt
.
Domestically, the central bank increased the relending and rediscount line by another 150 billion yuan to support small and micro private enterprises, reflecting the current stability and relaxation of official monetary policy
.
Fundamentals, data released by the National Bureau of Statistics showed that China's refined copper production in September was 764,000 tons, an increase of 10.
4% year-on-year, and copper production in September was 1.
518 million tons, an increase of 4.
6% over the same period last year; From January to September, copper production climbed 12.
0% year-on-year to 12.
494 million tons
.
Minmetals Resources announced that in the third quarter of the three months ended September 30, 2018, the Group produced 34,800 tons of electrolytic copper, a year-on-year increase of 4%, copper production of 87,100 tons, a year-on-year decrease of 24%, zinc production of 57,600 tons, a year-on-year increase of 234%, lead production of 11,800 tons, a year-on-year increase of 83%, and molybdenum production of 559 tons, a year-on-year increase of 17%.
。 In the first nine months of 2018, electrolytic copper production was 112,600 tons, up 7% year-on-year, copper production was 274,500 tons, down 18% year-on-year, zinc production was 163,000 tons, up 198% year-on-year, lead production was 34,000 tons, up 80% year-on-year, and molybdenum production was 1,512 tons, up 59%
year-on-year.
Overall, the phased strengthening of the US dollar inhibits the rebound of copper prices, and there are no further bright spots in the fundamentals, and copper prices are under pressure
in the 51,000 yuan / ton area in the short term.
Operationally, individual customers of the Shanghai Copper 1812 contract and customers in the downstream industry are temporarily waiting and seeing
.
