December 11 Copper Market Brief Review

On Tuesday, the main contract of Shanghai copper 2002 opened at 48610 yuan / ton in the morning, and then fell slightly, the center of gravity remained stable around 48620 yuan / ton, until the end of the midday, after the afternoon opening Shanghai copper continued to rise to 48780 yuan / ton, the market continued to rise in entanglement, some long and short positions were closed one after another, the center of gravity of Shanghai copper fell back to around 48600 yuan / ton, and closed at 48690 yuan / ton, up 660 yuan / ton, or 1.
37%.

The average price of electrolytic copper in Shanghai in the South Reserve: 48400 yuan, up 300, the price of the month's discount: 40 to 50, down 80
.
Shanghai copper continued to rise during the day, although spot holders quoted at the opening of morning trading to maintain the previous day's premium price level, but the market traded weakly
.
The overall holders have a strong willingness to exchange cash during the day, the shipment quotation is very positive, and the circulation supply is sufficient
.
Due to the market's fear of high copper prices, few transactions were made, and holders took the initiative to reduce the premium
.
As of about 10 o'clock, the price of flat water copper premium fell to about +40 yuan, and the quotation of good copper was around +50 yuan / ton, and only a small number of transactions were made, and the premium maintained a downward trend
.
As of the close of the morning, Pingshui copper fell to +20 yuan / ton, and the trading atmosphere was weak
.
Overall, the rise of Shanghai copper for two consecutive days continued to suppress the trading of the spot market, and the market buying sentiment was low, and the intraday premium fell off a cliff.

Copper rose 30-50 yuan for the month, down 90; flat water copper premium 20-40 yuan, down 80; Wet copper sticker 10-flat water 0 yuan, down 75
.

The average price of electrolytic copper in Foshan in Nanchu: 48420 yuan, up 390, the price of the month's discount: 40 to 80, down 5
.
Shanghai copper continued its strong trend in overnight trading, with the main Shanghai copper contract rising 580 yuan
by midday close.
The high copper price will still be detrimental to downstream procurement, but the supply of goods holders is not much, want to continue to raise prices, in the morning flat water copper reported a premium of 50 yuan, good copper premium 80 yuan, all have been traded, and flat water copper trading volume is quite a lot
.
With the collapse of spot premium in Shanghai, Guangdong market confidence has also been affected, holders have shipped goods one after another, and traders have begun to receive goods cautiously, and the price of some flat water copper has been reduced to 40 yuan, and by the second quarter, it has been able to be traded by 30 yuan / ton
.
On the whole, the downstream buying is suppressed, and trading continues to be more difficult
.
Overall, holders are afraid of falling shipments, the market supply is increasing compared with the previous day, spot premium is weak downward, because the overall liquidity is not abundant, low-price flat water copper trading is still acceptable, but overall, copper prices rise sharply to inhibit downstream demand, spot trading atmosphere is general
.

Shanghai copper continued its upward trend, yesterday and today's Shanghai copper main force increased a total of nearly 100,000 lots, mainly long buying, Shanghai copper has now ended a half-year sideways state
.
Intraday bulls continued to maintain a strong position, as the market's expectations of a better global demand and OPEC's deepening production cuts continued to weaken the market's concerns about the demand side, and from a fundamental point of view, the market is not pessimistic about consumption expectations at the end of the year, and the bulls' force is still very strong; Pay attention to the recent trend of increasing positions by 100,000 lots, which will affect the subsequent trend
of copper prices.