July 19 Shanghai copper morning review

Market: On July 18, Shanghai electrolytic copper spot reported a discount of 80-20 yuan / ton, and the transaction price of flat water copper was 37850-37970 yuan / ton
.
Holders in the morning market were slightly panicked, selling goods concentrated, the discount and the low discount level before delivery remained stable, and the good copper reported a discount of 30 yuan / ton, but the market wait-and-see atmosphere was strong
.
After that, the market stabilized and rose back to around 38,000 yuan / ton, and the number of bargain hunters increased, pushing the current copper discount to begin to narrow, and the transaction improved compared with last Friday
.

Inventories: As of July 15, the previous period of Shanghai copper stocks reported 177199 tons, an increase of 15,069 tons from last week, the second consecutive week of increase in 15 weeks, in addition to the previous copper stocks fell for 14 consecutive weeks, a cumulative decrease of nearly 240,000 tons, close to the year's low of 155235 tons
set last week.

Overnight, the main oscillation of Shanghai copper strengthened to 38330 yuan / ton, while London copper increased its position upward in the past week, indicating that funds are actively involved, and the copper market is expected to continue to rise driven by the strengthening of nickel prices
.
It is recommended that the Shanghai copper 1609 contract can be backed above 37800 yuan to bargain price, the entry reference is around 38100 yuan, and the target is 38800 yuan
.