July 25 Copper Market Brief Review

On Wednesday, the main contract of Shanghai copper 1909 opened at 46960 yuan / ton in the morning, and after the opening, the market slowly oscillated upward to 47070 yuan / ton, and then fell to the lowest level of the day of 46960 yuan / ton, and the center of gravity continued to move up after a slight consolidation until the
afternoon.
In the afternoon, the market still fluctuated upward to 47080 yuan / ton, and then the center of gravity basically remained stable here, closing at 47090 yuan / ton
at the end of the session.
It fell by 250 yuan / ton, down 0.
53%.

The average price of electrolytic copper in East China of the South Reserve: 47010 yuan, down 280, the monthly discount quotation: 10 to 50, up 20
.
The Shanghai copper plate continued to move low, and the spot premium was able to recover slightly; In the morning, the willingness of holders to hold prices was strong, but the market was still weak, failed to be boosted, and the transaction was light; Holders actively shipped, the premium was reduced to varying degrees, and a small number of low-priced sources appeared in the market; Traders are still waiting to see where prices are headed, and downstream demand can be boosted to maintain on-demand procurement
.
The overall trading atmosphere of the intraday market is still weak, and the transaction situation is not good
.
Copper rose 15 yuan to the monthly premium of 40-60 yuan; flat water copper 10-20 yuan, up 20; Wet copper discount 50-40 yuan, up 10
.

The average price of electrolytic copper in South China: 46900 yuan, down 310, the monthly discount quotation: -90 to -70, down 15
.
Copper prices continue to fall from their highs and have fallen below the 47,000 line, which is expected to boost downstream market purchases
.
In the morning, flat water copper reported -70, -80 yuan / ton, good copper reported -60 yuan / ton or so, traders want to further reduce the price to receive goods, the transaction is temporarily weak; And there are still a lot of supplies on the market, the overall quotation began to loosen, to about ten o'clock, the mainstream of flat water copper at -90, good copper at -70 yuan / ton transaction, spot transaction discount and yesterday slightly lower
.
Overall, the lower copper price has made downstream consumption better, and traders have also taken advantage of the large discount to receive goods, and the transaction performance has improved compared with the previous day, but large households have shipped, the market supply is abundant, and the spot discount is still difficult to narrow
.

At present, the market position has gradually moved back, and the position of the Shanghai copper 1910 contract increased by 6,876 lots to 125,000 lots
.
The overall trend of the Shanghai copper market is stable, mainly due to the US dollar has been at a high level recently, the high has exceeded 97.
76, and copper prices are under pressure
.
And the new British prime minister took office, the UK is still facing Brexit pressure, the current European economic slowdown trend is obvious, negative copper prices higher
.