December 25 copper market brief commentary

On Tuesday, the main contract of Shanghai copper 2002 opened at 49120 yuan / ton in the morning, after the opening until the end of the morning trading session, the center of gravity of copper price hovered around 49080-49230 yuan / ton, with the rapid rise of London copper in the afternoon, Shanghai copper followed the trend of the external market, bulls entered the market strongly, quickly pushed the copper price to the highest point of the day at 49640 yuan / ton, and closed at 49590 yuan / ton, up 570 yuan / ton, or 1.
16%.

The average price of electrolytic copper in Shanghai in the South Reserve: 48890 yuan, up 90, the monthly discount quotation: -90 to -60, up 10
.
There were a large number of next month tickets in the intraday market, and the price difference between tickets and without tickets improved compared with the previous day, but it still remained at about
30-40 yuan / ton.
At the opening of the morning session, the quotation of the holder remained stable, and the price was not significantly different from the previous day, the quotation of flat water copper in the monthly ticket was about -80 yuan / ton, and the quotation of good copper was about -60 yuan / ton, which was quite large compared with the previous day; The quotation of next month's ticket rose slightly from the previous day, and the quotation of flat water copper was about -110 yuan / ton, but the transaction situation did not improve, and the premium gradually declined
.
At about ten o'clock, the flat water quotation of the monthly ticket was about -90 yuan / ton, and some good copper followed down to -70 yuan / ton
.
Subsequently, the market transaction situation continued to weaken, and the center of gravity edged lower
.
Overall, high copper prices have had an impact on downstream buying, with fewer traders trading at the end of the year and a weakening
trading atmosphere.
The market may continue to be weaker after this week
.
The premium copper sticker is 80-70 yuan for the month, which is flat; Flat water copper sticker 100-90 yuan, flat; Wet copper sticker 140-130 yuan, flat
.

The average price of electrolytic copper in Foshan in Nanchu: 48930 yuan, up 60, the month's premium quotation: -60 to -20, down 20
.
Shanghai copper was on the strong side, and the main contract closed at 49,010 yuan / ton, up 130 yuan
.
In terms of spot, Pingshui copper began to report a discount of 30-40 yuan / ton in the morning, and a good copper sticker of 10 or a low price shipment from Nanchuan
.
The willingness of the market to receive goods is weak, and the big households actively dump the goods, so they have to continue to adjust the price to pursue the transaction, flat water copper first dropped to -50, soon adjusted to -60 again, and even -70, and the market flat water copper mainstream discount 60, low price to attract traders and downstream to receive goods, transaction increased, good copper discount is also slightly loose, discount 10-20 can be traded
.
Overall, traders are willing to ship at the end of the year, while market demand is limited, the relationship between supply and demand is loose and continues to drag down spot prices, and trading is relatively improved
when flat water copper is greatly discounted.

At present, the overall macro of the market is still performing well, and on Christmas Eve, the market trading atmosphere is optimistic; Domestically, the central bank has also repeatedly carried out loose monetary policy, trying to maintain sufficient liquidity, the domestic economy is making steady progress, and Shanghai copper is supported by a stable high
.