December 26 Copper Market Brief Review

Wednesday Shanghai copper main contract 2002 morning opened at 49480 yuan / ton, after the opening copper price winding around the daily moving average, the center of gravity briefly stabilized at 49460 yuan / ton, near the end of midday, the plate pulled up to around 49550 yuan / ton, the afternoon market optimism continued to spread, bulls actively entered the market trading, the copper price rose to 49700 yuan / ton, and then the market was hesitant about the high, and quickly fell back to around 49500 yuan / ton, but the bull force is still strong, Shanghai copper immediately recovered strongly to around 49,670 yuan / ton, and closed at 49,600 yuan / ton, up 310 yuan / ton, or 0.
63%.

The average price of electrolytic copper in Shanghai in the South Reserve: 49220 yuan, up 330, the monthly discount quotation: -90 to -70, down 5
.
Most of the quotations during the day are the next month's tickets, some of the current month's ticket holders have a high price sentiment, the morning quotation is divergent, the quotation of flat water copper premium ranges from -70 to -90 yuan / ton, and the transaction situation of low-price sources is better; Around ten o'clock, the overall quotation center of gravity was reduced to -80 to -90 yuan / ton.

Good copper quotations have also been lowered with Pingshui copper, from -50, -60 yuan / ton to -70, -80 yuan / ton line
.
Next month's ticket flat water copper quotation is about -120 yuan / ton to -130 yuan / ton
.
In the second section, some traders continued to lower their shipments, and the overall quotation remained basically unchanged
.
On the whole, at the end of the month, traders holding the monthly ticket are not willing to adjust the price, the transaction situation is slightly deadlocked, and the overall transaction situation today is average
.
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 140-120 yuan, up 5
.

The average price of electrolytic copper in Foshan in Nanchu: 49260 yuan, up 330, the monthly discount quotation: -60 to -10, up 5
.
Shanghai copper continued to soar, with the main contract closing at 49,560 yuan / ton, up 270 yuan
.
In terms of spot, the holders of the year-end clearance and shipment are active, in the morning flat water copper began to report a discount of 50, good copper quotations are relatively rare, the price is also relatively firm, the discount 0 to 10 or so, the market lacks willingness to receive goods, and the transaction is weak
.
There are large households dumping goods at low prices, flat water copper once discounted 70, after the low-price source of goods is consumed, flat water copper discount water stabilized at the 60 line
.
Overall, traders want to exchange demand at the end of the year, and the willingness to receive goods is flat, so they have to pursue transactions at low prices, and the overall trading situation is not good
.

The external market is closed, and the overall domestic macro expectation is good near the end of the year, mainly because the country has continued to carry out open market operation business in recent days, and has adopted a reverse repurchase policy to invest funds one after another, reflecting the willingness of the domestic central bank to release liquidity steadily, giving market confidence and benefiting the copper market
.
At present, Shanghai copper has hit a new high in August, and the high has exceeded the 49,700 yuan / ton mark, and the KDJ indicator golden cross is positive, which is beneficial to the copper market
.
The external market continues to be closed, waiting for whether Shanghai copper can continue to stand at the 49,600 yuan / ton mark
.