February 20 copper market afternoon review

Overnight, London copper bottomed out and rebounded, closing up 0.
33%; Concerns about the economic outlook have risen, Apple has sharply lowered its first-quarter revenue forecast, and short-term copper prices are under pressure, and copper is expected to rise or fall little
today.

Today's Shanghai electrolytic copper spot contract discount of 250 yuan / ton ~ discount 200 yuan / ton, flat water copper trading price 45880 yuan / ton ~ 46120 yuan / ton, premium copper trading price 45900 yuan / ton ~ 46140 yuan / ton
。 Shanghai copper upward hindered fall, the morning trading session quickly straight down nearly 200 yuan / ton, spot market, morning market when the market is still at a high level of quotation from good copper discount 200 yuan / ton report, flat water copper from the morning market discount 220 yuan / ton quickly dropped to discount 240-230 yuan / ton, about 11 o'clock, has been reduced to discount 250 yuan -260 yuan / ton, good copper followed; Almost no price difference with flat water copper reported at a discount of about 230 yuan / ton, wet copper is reported from the morning market discount of 300 yuan / ton, until the second trading session, has shown a discount of about 350 yuan / ton quotation, and flat water copper opened a price difference
of nearly 100 yuan.

Since February, traders return to work rate is high, shipment cash is also significantly increasing, with the end of February, financial pressure is getting heavier and heavier, and a small number of downstream enterprises are gradually troubled by funds, the volume of goods is difficult to release, the short-term market will continue to show goods difficulties, limited transactions, oversupply characteristics are becoming more and more prominent, the trend of discount expansion is difficult to suppress
.