echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > New Chemical Materials > January 17 Shanghai copper brief commentary

    January 17 Shanghai copper brief commentary

    • Last Update: 2022-12-14
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    On Thursday, the Shanghai copper 1903 contract as a whole fluctuated
    in a narrow range above the daily moving average.
    Open at 47310 yuan / ton in the morning, the opening bottomed, and then the shock rose to 47410 yuan / ton to do a narrow consolidation, the stability maintenance time is not long, and then fell back to the daily average of 47350 yuan / ton position, near noon, short positions reduced, copper prices again to the upside, during the period of many struggles near the daily moving average, until the afternoon short-term high of 47490 yuan / ton, the center of gravity fell back to the daily moving average again, closing at 47380 yuan / ton, up 220 yuan / ton, or 0.
    47

    Shanghai copper

    South Reserve East China: The average price of electrolytic copper was 47430 yuan, up 210, and the price of the month's discount was 60 to 100, down 5
    .
    East China: Morning holders tried to raise prices, but buyers did not accept high prices, the transaction remained deadlocked, and then some sellers adjusted prices to dump goods, the transaction improved slightly, the market gradually favored buyers, downstream consumption was light, consignees delivered long orders, and the overall transaction did not see a significant improvement
    .
    As of the close, the premium copper to the current month premium 80-100 yuan, flat water copper premium 40-60 yuan, wet copper discount 10-30 yuan
    .

    South China Reserve: The average price of electrolytic copper was 47440 yuan, up 210, and the monthly discount quotation: 70 to 110, flat
    .
    Guangdong: Near the weekend and factory shutdown, the trade atmosphere has declined, flat water copper +90, +100 yuan / ton in the morning, good copper + 120 yuan / ton, quotations are rare
    .
    At present, the demand is mainly for replenishment below, after the copper price continues to rise, the downstream purchasing willingness is general, and traders lack speculation, few to receive goods, shippers are difficult to trade, the subsequent flat water copper price fell back to +70, +80 yuan / ton, good copper +110 yuan / ton or so, began to trade, but the overall trading performance has been significantly weakened
    .

    During the day, the red column of the main entity of Shanghai copper successfully stood on the 5-day moving average, and tested the 10-day moving average upward, the MACD indicator formed a technical golden cross, waiting for external guidance, paying attention to the long and short trends, paying attention to the price difference between the near and far months, testing whether the main force of Shanghai copper can break through 47500 yuan / ton
    again.

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.