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The US dollar index returned to the 94 mark, inhibiting copper price gains, but driven by low buying, copper prices continue to rise today, but the increase is obviously limited, London copper continues to rise to test $6,500, Shanghai copper main force in the morning temporarily failed to break through the 50,000 mark, because the current off-season consumer demand is obviously weak, the copper market basically faces the decline in copper price support factors, scrap copper supply to copper price support is limited, technical upward has not had a significant trend, today's capital is still increasing slightly, it is expected to continue to test the 50,000 mark today, pay attention to the progress of the trade war
。
Spot market, Shanghai copper around the 5-day moving average oscillation red, but the spot market performance is slightly weak, the plate rose slightly, spot premium quotation slightly lowered, good copper morning market premium 20 yuan / ton is not recognized by the market, good copper first fell to the vicinity of flat water, and even can be discounted 10 yuan / ton, good copper performance is particularly sluggish, because the price difference before delivery is still narrowing, speculative trade profit margins are suppressed, traders' favor for good copper declines, unless the discount and then expand the transaction will have a turnaround, Flat water copper performance is slightly better than good copper, stable quotation at discount of about 30 yuan / ton, some brands can receive the discount of 40 yuan / ton at a low price, wet copper under the premise of less goods, for the downstream price at the discount of 80 ~ 60 yuan / ton, it is difficult to have room for price reduction
.
Futures rebounded spot did not follow, and the overall buying force weakened
.
The RMB has risen rapidly and the import loss has decreased, focusing on its sustainability, and copper imports may increase
in the future.
Scrap copper market, the market supply is obviously in short supply, because the import source can not be replenished, the current holders slightly adjust the price of shipments to ease the financial pressure, because the refined waste price difference continues to widen, electrolytic copper consumption has slowed down slightly, inventory overall has a continuous increase trend, because the current premium is too high, downstream shutdown and production reduction phenomenon increases, holders continue to sell, the transaction has not improved
.
