-
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 Friday, the Shanghai copper 1611 contract opened at 36700 yuan / ton, after the opening in the weakening of the US dollar boosted, short liquidation pushed up copper price rebound blocked, bulls quickly closed positions, copper price center of gravity fell back to 36675 yuan / ton around consolidation, afternoon London copper declined, Shanghai copper next layer, close to the daily moving average to get support, at 36620 yuan / ton closed at the small white line
.
Today's Shanghai copper current month 1609 contract opened at 36550 yuan, as of 9:10, Shanghai copper 1609 contract quotation is 36500 yuan, down 110 yuan
.
Externally, the fall in oil prices and the strengthening of the US dollar weighed on base metal prices, international metals generally fell on Friday night, London copper was weak and volatile, closing down $34 at the end of the day, and the latest closing price was $4631, down 0.
73%; Today, LME copper is trading near two-month lows as the dollar gains and investors are increasingly bearish on the outlook
for copper prices.
Three-month copper was last quoted at $4,630.
50 a tonne, broadly unchanged from Friday's close, when the contract closed down 0.
7 percent
.
On the macro front, the US financial market fluctuated sharply at the end of last week, approaching the eve of the September interest rate meeting, the market paid close attention to the statements of Fed officials, the dollar index rebounded, US Treasury yields rose sharply, the recent sustained bond yield rebound or reflected the disappointment of the Fed's interest rate hike expectations and the slow release of water by the three central banks, resulting in a sharp decline in U.
S.
stocks.
If the correction in Treasury bonds and U.
S.
stocks forms a trend change, it will be bearish
for asset prices.
In terms of the market, last week's Shanghai copper spot premium expanded, import losses narrowed to 100 yuan, showing that domestic demand increased, spot supply was slightly tight, followed by mid-autumn stocking and delivery, spot support is strong, but the position fell to an extreme low of 500,000 lots, the momentum is seriously insufficient, copper prices or continue to maintain a narrow range, a slight rebound, it is recommended that low bulls continue to hold, pay attention to spot premiums and position changes
.
After entering September, Shanghai copper spot improved slightly, last week stocks continued to decrease by more than 8,000 tons, total stocks fell to 143,000 tons, but London stocks increased by 12,000 tons, the current stocks rose to 350,000 tons, since August stocks have increased by 150,000 tons, stocks have shifted in both markets, but the total inventory growth is rapid, putting pressure
on copper prices.
However, although China's July and August are off-season, consumption has dropped significantly compared with the second quarter, but it still maintains a good growth year-on-year, and the actual demand situation is not as bad as the macro data indicates, and consumption is expected to rebound
significantly after September.
