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    Home > Chemicals Industry > New Chemical Materials > July 17 Shanghai copper brief commentary

    July 17 Shanghai copper brief commentary

    • Last Update: 2022-12-11
    • Source: Internet
    • Author: User
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    Today's morning Shanghai copper main 1809 contract opened at 48830 yuan / ton, after a slight decline at the beginning of the session, bulls entered the market with positions, quickly pulled up copper prices to 49120 yuan / ton, and then oscillated at 48980 yuan / ton line, with an amplitude of about
    100 yuan / ton.
    At noon, copper prices climbed again, reaching an intraday high of 49150 yuan / ton, and then affected by the external market, the shock fell to 48700 yuan / ton, and the decline at the end of the session closed, closing at 48810 yuan / ton, down 180 yuan / ton
    .

    Shanghai copper

    South Reserve East China: the average spot price of electrolytic copper was 48,730 yuan / ton, down 100 yuan / ton; Liter discount quotes, -140 to -100 yuan, down 195
    .
    In East China, as the premium remained at a low position after the month change, boosting the willingness to receive goods, traders began to enter the market for procurement, shipments turned smooth, intraday discount quotations continued to narrow, and the overall trading was better than yesterday
    .
    Today's premium copper mainstream trading discount for futures contracts of the month is 90-100 yuan, flat water copper discount 130-140 yuan, wet copper discount 160-170 yuan
    .

    South China Reserve: The average spot price of electrolytic copper was 48950 yuan / ton, down 80 yuan / ton; Liter discount quotation, 90 to 120 yuan, down 170
    .
    In Guangdong, the market trading enthusiasm after delivery increased compared with yesterday, and warehouse receipts flowed into the market, and many downstream companies also re-purchased, and the premium rose slightly under the condition of little change in inventory; Overall, today's transaction situation is significantly better than yesterday's
    .
    Today's premium copper mainstream trading pair futures contract premium 120-130 yuan / ton, flat water copper premium 80-100 yuan / ton
    .

    Today's copper prices continued to rise and fall, briefly crossing the 49,000 yuan / ton integer mark, stabilizing at 48,500 yuan / ton, and support below the 5-day moving average gradually appeared
    .
    Macro is short, poor domestic economic data, resulting in insufficient market confidence, limited ability of bulls to pull up, bears waiting for the opportunity to enter the market to suppress, copper prices are accumulating strength, but the upward pressure is too great
    .
    Although the US index gradually got rid of the high, it had little
    effect on copper prices.
    Pay attention to the US industrial and manufacturing output month-on-month and external guidance in June, and it is expected to continue to test the support capacity
    of 49,000 yuan / ton in the evening.

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