-
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
Yesterday, the main CU1610 contract of Shanghai copper opened at 36530 yuan / ton, the lowest down to 36050 yuan / ton, and then rebounded, and finally closed at 36370 yuan, down 460 yuan / ton from the settlement price of the previous trading day, down 1.
25%.
Externally, the sharp increase in London copper inventories, coupled with the increase in wait-and-see sentiment in the spot market after the copper price retreated on Thursday, and the power of bargain hunting decreased, which made copper prices weak consolidation, and London copper closed at $4627, down $2/ton
.
Macro: the US dollar and crude oil shocked, and the RMB did not change much
.
Watch for Yellen's speech
at the Global Central Bank Conference tomorrow.
The open market of the domestic central bank will carry out a 7-day reverse repurchase operation of 140 billion yuan; 80 billion 14-day reverse repurchase operation, capital stability is still the primary goal
.
The message is neutral
.
In terms of the market, the mentality of buying up rather than buying down has caused the market to show a certain wait-and-see mood after the big fall, and if there are signs of stabilizing at a low level, it may attract further buying into the market
.
In the afternoon, copper prices rebounded, and the quotations of holders loosened slightly, showing a discount of 10 yuan / ton - 40 yuan / ton of premium, and the market wait-and-see sentiment rebounded, and activity was correspondingly suppressed
.
In terms of imports, the Shanghai-London ratio ran at 7.
83, and the spot loss of imported copper remained around 300 yuan / ton
.
Although the import loss narrowed after the fall in copper prices, the extent was limited, and the import window still did not open, which made the imported copper market wait-and-see sentiment strong, and the market transaction did not improve
.
On the whole, although the recent London copper inventory continued to rise, the external market led the decline, but the internal side of the new buying force is limited, the downstream side is more hesitant to stock up before the fall in copper prices, so the import window still has not opened
.
On the whole, after the fall in copper prices, the wait-and-see sentiment in the spot market is strong, so that neither the spot market transaction nor the Shanghai ratio has shown a significant improvement, and it is difficult for copper prices to get out of the recent weak situation without the support of effective domestic buying forces
.
Therefore, we continue to be bullish on copper prices, continue to hold short orders in operation, and pay attention to the development of
copper imports.
