July 16 copper market noon review

Today's Shanghai electrolytic copper spot contract reported a premium of 20 ~ 50 yuan / ton, flat water copper trading price of 51080 yuan / ton ~ 51360 yuan / ton, and premium copper trading price of 51090 yuan / ton ~ 51380 yuan / ton
.
Today's Shanghai copper continued its overnight decline, and then fell more than 1,000 yuan, with the market almost 51,000 yuan / ton mark
.
On the first day after the spot market change month, the holder of the morning market flat water copper quotation premium 30 yuan / ton, good copper premium 40-50 yuan / ton, traders led the morning market buying active, flat water copper can be pressed to 20 yuan / degree ton, the receipt volume has increased significantly, some downstream also entered the market after a continuous sharp decline to replenish, so the holder quickly raised the price of flat water copper to 40 yuan / ton in the second trading session, but the transaction was deadlocked, the transaction market conditions were not as good as before, good copper is difficult to keep up with the rise, the market favor is obviously inferior to flat water copper; Wet copper narrowed slightly at 70-60 yuan/ton, and downstream replenishment improved significantly compared with the beginning of the week
.

Today's Shanghai copper fell below the 5-day moving average and pointed to the 10-day moving average, giving up its gains after soaring 5% on Monday, and has been negative for three consecutive times, traders have re-emerged as active, and low premiums have attracted them to the market
.
If the decline slows down, the downstream market buying will gradually pick up and rise, and the premium will show a stable and firm trend before the delivery source flows out
.