December 12 Copper Market Brief Review

On Wednesday, the main contract of Shanghai copper 2002 opened at 48730 yuan / ton in the morning, and then the long and short sides were in a stalemate, winding around the daily moving average, and the center of gravity remained stable around 48730 yuan / ton until the end of midday; In the afternoon, the bulls continued to increase their positions strongly, and Shanghai copper once again rushed to the highest point of the day at 49,060 yuan / ton, and closed at 49,000 yuan / ton at the end of the session, up 420 yuan / ton, or 0.
86%.

The average price of electrolytic copper in Shanghai in the South Reserve: 48,500 yuan, up 100, the monthly discount quotation: 0 to 20, down 35
.
Shanghai copper continued to continue its upward trend by a small margin, with holders lowering premium shipments and making more positive inquiries and quotations in the morning
.
The mainstream trading premium of Pingshui copper remains near Pingshui, and a small number of sources of goods are circulating in the market at discounted prices; Good copper quotations are around +10, +20 yuan / ton, the market trading atmosphere has rebounded, and the transaction has picked up
.
In recent days, Shanghai copper has been running at a high level, which has a great suppression of spots, the premium has fallen sharply, the downstream buying sentiment has weakened, and consumption has been affected to a certain extent
.
Copper rose 10-20 yuan for the month, down 25; flat water copper sticker 10-flat water 0 yuan, down 35; Wet copper sticker 40-30 yuan, down 30
.

The average price of electrolytic copper in Foshan in Nanchu: 48550 yuan, up 130, the monthly discount quotation: 40 to 80, flat
.
Shanghai copper fluctuated strongly at a high level, continuing to put pressure on the spot market, but there are large households that need to deliver long orders, and there are not many sources of goods circulating in the market during the day, so shippers are still holding up prices
.
In the morning, flat water copper reported a premium of 40 yuan, good copper premium 80 yuan, flat water copper trading is acceptable, and good copper is only a small amount of transactions, but close to delivery good copper quotation is not much, shippers still maintain a premium of about
80 yuan a line.
At about ten o'clock, after the demand was partially satisfied, Pingshui copper had to be lowered to 30 yuan before it could be sold, and the low-priced source was sold out relatively quickly, and some shippers had covered the market, and the price sentiment appeared again
.
In general, there are not many shipments from large households near delivery, the supply is still not loose, and the downstream demand for copper prices is generally weak, the overall supply and demand have reached a balanced state, and the smoothness of copper trading in flat water is
acceptable.

At present, the market's confidence in the global macro atmosphere has increased, the European economic prosperity index has also performed well in recent days, and the domestic social finance data has performed well, boosting market confidence, and bulls have taken the opportunity to enter
strongly.
It is necessary to pay attention to the cover of the gap in the early stage to verify whether the trend of Shanghai copper bulls can continue
.