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Today's Shanghai copper morning opening continued the overnight rally, then under pressure to fall significantly, basically give up the gains, technically copper price shock fall, short-term is difficult to break through the pressure of 45500 yuan, it is expected that Shanghai copper in the range of 45000-45500 yuan weak shock mainly
.
Follow the latest changes
in the international financial market.
In terms of spot, the overall supply pattern of the market does not change, the import window is opened from time to time for the impact of copper prices is ignored, the holders still insist on holding up the price of shipments, a little hesitant to sell, in view of the fact that the current has not completely entered the consumption off-season, downstream demand remains better, more bargain absorption operations-based, supply and demand trading deadlock, some merchants adjust prices and shipments, downstream user purchases slightly increased, today Guangdong electrolytic copper trading premium and then raised, the overall trading is
acceptable.
South Reserve East China quotation: the average spot price of electrolytic copper was 45190 yuan, up 290 yuan; Liter discount quotation, -80 to -30 yuan, down 15 yuan
.
In East China, the holders actively quoted, the copper discount continued to expand, the intraday market was more wait-and-see, the downstream on-demand procurement was the mainstay, and the overall transaction was not good
.
The premium copper mainstream trading pair futures contract discount of about 30 yuan, flat water copper discount 60-80 yuan, wet copper discount 120-140 yuan
.
South China Reserve quotation: the average spot price of electrolytic copper was 45310 yuan, up 320 yuan; The price of the discount is 40 to 80 yuan, up 10 yuan
.
In Guangdong, inventories continued to decline, morning holders shipped at high prices, downstream inquiries were acceptable, traders were also more active, and the overall transaction was acceptable
.
It is worth noting that the discount in Shanghai continues to expand, so the price difference between Shanghai and Guangdong has widened to about
150 yuan.
The premium copper mainstream trading pair futures contract premium of 70-80 yuan, flat water copper premium 40-50 yuan
.
This morning, the price of copper in the two domestic futures markets rose slightly, but gradually entering the off-season, most copper manufacturers have reflected a significant decline in orders, coupled with environmental protection impact is still fermenting, so they are still cautious in purchasing, mainly purchasing on demand
.
At present, there are still not many sources of recycled copper available for trading on the market, and copper prices fluctuate in the low range to aggravate the selling mentality of holders, and they still hold a bullish attitude towards the future market, and it is expected that even if copper prices decline in the short term, the space will be limited
.
