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1.
Summary of copper prices in major domestic cities
| market | name of article | Material | Price range | Change | remark | |
| Guangdong spot | 1# Copper | 1 # | 37400-37600 | Yuan/ton | -280 | Tax included |
| Shanghai spot | 1# Copper | 1 # | 37400-37600 | Yuan/ton | -50 | Tax included |
| Shanghai spot | Flat water copper | 37400-37580 | Yuan/ton | -40 | Tax included | |
| Shanghai spot | Liters of copper | 37380-37600 | Yuan/ton | -75 | Tax included | |
| Shanghai | 1# Copper | 1 # | 37400-37500 | Yuan/ton | -250 | Tax included |
| Foshan spot | 1# Electrolytic copper plate | 1 # | 34800-35000 | Yuan/ton | -300 | Tax not included |
| Jinan spot | 1# Copper | 1 # | 37550-37550 | Yuan/ton | -250 | Tax included |
| Shenyang spot | 1# Copper | 1 # | 37650-37650 | Yuan/ton | -250 | Tax included |
| Beijing spot | 1# Copper | 1 # | 37600-37600 | Yuan/ton | -250 | Tax included |
| Tianjin spot | 1# Copper | 1 # | 37600-37600 | Yuan/ton | -250 | Tax included |
| Wuxi spot | 1# Copper | 1 # | 37600-37600 | Yuan/ton | -250 | Tax included |
| Xi'an spot | 1# Copper | 1 # | 37650-37650 | Yuan/ton | -250 | Tax included |
| Chongqing spot | 1# Copper | 1 # | 37650-37650 | Yuan/ton | -250 | Tax included |
| Guangzhou spot | 1# Copper | 1 # | 37700-37700 | Yuan/ton | -300 | Tax included |
| Wuhan spot | 1# Copper | 1 # | 37600-37600 | Yuan/ton | -250 | Tax included |
| Kunming spot | 1# Copper | 1 # | 37700-37700 | Yuan/ton | -250 | Tax included |
2.
Market review
Overnight, the Shanghai copper 1606 contract opened at 37650 yuan / ton, after the opening first fell and then rose, the low level was 37590 yuan / ton, and finally Shanghai copper closed at 37760 yuan / ton, down 70 yuan / ton
.
Today's Shanghai copper trend is volatile, as of the noon close, the latest price of Shanghai copper 1602 is 36130 yuan / ton, down 80 yuan; The main price of Shanghai copper was 37,640 yuan / ton, down 190 yuan
.
At present, the main contract of Shanghai copper is still in a volatile pattern, and the 37500 futures price is the current bottom strong support point
.
In the external market, the trend of copper in the overnight was under pressure, and the intraday was weak and volatile, closing down $26 at $4964, down 0.
52%.
Today, London copper futures stabilised after two straight days of declines, supported by a weaker US dollar, but concerns about demand from China, the largest consumer of the metal, continued to weigh on copper prices, offsetting some of the support from a weaker US dollar
.
Three-month copper on the London Metal Exchange fell 0.
6 percent to $4,934 a tonne, near a one-week low of $
4,916.
50 hit on Tuesday.
3.
Overview of the domestic copper market
On the macro front, on the eve of the Fed's decision statement, there was a lack of guidance from important economic data, and market sentiment was more cautious
.
The latest U.
S.
durable goods orders growth in March sharply weaker-than-expected indicates a slowdown in manufacturing activity, returning the focus to the global demand outlook, investors are worried that expectations of stronger demand in China are too optimistic, triggering a sell-off, but a weaker dollar slightly supported copper prices, limiting intraday
declines.
At present, the fundamentals have not changed much, and the enthusiasm of the domestic May Day market trading before the short holiday may decline, and it is expected that the short-term copper market will be
consolidated.
Today's Shanghai electrolytic copper spot contract discount of 180 yuan / ton - discount 100 yuan / ton, flat water copper trading price of 37400 yuan / ton - 37580 yuan / ton, premium copper trading price of 37380 yuan / ton - 37600 yuan / ton
。 Shanghai copper's center of gravity slowly fell, the morning holder's discount quotation remained stable at yesterday's level, and some traders in the market held a small number of low-priced bulk goods, quickly absorbed by the market, the second trading session, Shanghai copper fell again by 200 yuan / ton, the market supply gradually tightened, coupled with downstream enterprises into the market to receive goods, the holder price mentality is obvious, middlemen bargain to charge low-priced sources, favor wet and flat water and other brands, downstream enterprises into the market, the market presents a situation of tight prices, transaction has improved
.
4.
Copper closing situation
Today's Shanghai copper slightly rose to 37920 yuan / ton, then black series diving, bulls actively reduced positions to leave the market, the price fell directly to the lowest 37490 yuan / ton, and then rose slightly to stabilize, 1606 finally closed 37630 yuan / ton, down 200 yuan / ton, down 0.
53%, position down 9374 lots
.
The total position of copper in Shanghai increased by 14,890 lots to 650,000 lots, with a total transaction of 520,000 lots, and the 1607 contract opened 37,860 yuan / ton, closing at 37,630 yuan / ton, down 220 yuan / ton, and increased by 21,684 lots
.
Today's wide range of oscillations closed the crosshair, the lower adjustment space is limited, and the market maintained volatility near the 5-day line
.
